Seaport Therapeutics’ (SPTX) “Buy” Rating Reiterated at HC Wainwright

Seaport Therapeutics (NASDAQ:SPTX)‘s stock had its “buy” rating restated by HC Wainwright in a note issued to investors on Thursday, Marketbeat reports. They currently have a $50.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 179.33% from the company’s current price.

SPTX has been the subject of a number of other research reports. JonesTrading started coverage on Seaport Therapeutics in a report on Wednesday, August 26th. They set a “buy” rating and a $32.00 price target for the company. Seaport Research Partners set a $46.00 price target on Seaport Therapeutics in a report on Friday, September 25th. Wolfe Research started coverage on Seaport Therapeutics in a report on Tuesday, July 7th. They set a “hold” rating for the company. Raymond James Financial started coverage on Seaport Therapeutics in a report on Friday, September 25th. They set a “strong-buy” rating and a $46.00 price target for the company. Finally, Weiss Ratings cut Seaport Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.57.

Seaport Therapeutics Stock Down 0.2%

NASDAQ SPTX traded down $0.03 during midday trading on Thursday, hitting $17.90. The company had a trading volume of 35,056 shares, compared to its average volume of 224,421. The stock has a market cap of $958.19 million and a P/E ratio of -1.48. The business has a 50-day moving average of $22.54. Seaport Therapeutics has a twelve month low of $14.85 and a twelve month high of $28.38.

Seaport Therapeutics (NASDAQ:SPTX) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($1.78) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($1.07). As a group, equities analysts predict that Seaport Therapeutics will post -4.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Seaport Therapeutics

Institutional investors have recently modified their holdings of the business. HighTower Advisors LLC bought a new stake in Seaport Therapeutics during the 2nd quarter worth $362,000. Squarepoint Ops LLC bought a new stake in Seaport Therapeutics during the 2nd quarter worth $538,000. State Street Corp bought a new stake in Seaport Therapeutics during the 2nd quarter worth $1,448,000. Alyeska Investment Group L.P. bought a new stake in Seaport Therapeutics during the 2nd quarter worth $1,629,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Seaport Therapeutics during the 2nd quarter worth $1,793,000.

About Seaport Therapeutics

Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for neuropsychiatric and neurological disorders. The company’s research emphasizes therapies that modulate the brain’s GABAergic system, which plays an important role in mood, anxiety, and other central nervous system functions.

Seaport’s drug-development programs are based on its Glyph platform, a technology designed to improve the delivery of small-molecule medicines to the brain and enable oral versions of therapies that may otherwise require intravenous or other forms of administration.