Seaport Therapeutics (NASDAQ:SPTX) Stock Rating Reaffirmed as Buy by HC Wainwright

Seaport Therapeutics (NASDAQ:SPTX)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a note issued to investors on Thursday, Marketbeat reports. They currently have a $50.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 177.47% from the stock’s current price.

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

Seaport Therapeutics Stock Performance

SPTX stock traded up $0.09 during trading on Thursday, reaching $18.02. The company had a trading volume of 12,199 shares, compared to its average volume of 224,217. The business has a 50-day simple moving average of $22.54. The firm has a market cap of $964.61 million and a P/E ratio of -1.49. Seaport Therapeutics has a twelve month low of $14.85 and a twelve month high of $28.38.

Seaport Therapeutics (NASDAQ:SPTX) last released its earnings results on Monday, August 3rd. The company reported ($1.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($1.07). As a group, analysts expect that Seaport Therapeutics will post -4.52 earnings per share for the current year.

Hedge Funds Weigh In On Seaport Therapeutics

Large investors have recently added to or reduced their stakes in the stock. TRV GP VI LLC acquired a new position in Seaport Therapeutics during the second quarter worth $44,769,742. Citadel Advisors LLC acquired a new stake in shares of Seaport Therapeutics in the second quarter valued at about $4,152,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Seaport Therapeutics in the second quarter valued at about $1,793,000. State Street Corp acquired a new stake in shares of Seaport Therapeutics in the second quarter valued at about $1,448,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Seaport Therapeutics in the second quarter valued at about $1,629,000.

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.