Seaport Therapeutics (NASDAQ:SPTX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Seaport Therapeutics (NASDAQ:SPTX) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $40.00 to $41.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 101.08% from the stock’s previous close.

Several other equities analysts also recently weighed in on SPTX. UBS Group restated a “buy” rating on shares of Seaport Therapeutics in a report on Thursday, October 8th. 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 began coverage on shares of Seaport Therapeutics in a research report on Friday, September 25th. They issued a “strong-buy” rating and a $46.00 price target on the stock. Canaccord Genuity Group assumed coverage on shares of Seaport Therapeutics in a research note on Wednesday, October 14th. They set a “buy” rating and a $28.00 price objective for the company. Finally, Seaport Research Partners set a $28.00 price objective on Seaport Therapeutics in a research report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Seaport Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $37.12.

Seaport Therapeutics Stock Performance

Shares of NASDAQ:SPTX traded down $0.57 during trading on Thursday, hitting $20.39. 221,061 shares of the stock were exchanged, compared to its average volume of 228,027. The company has a fifty day simple moving average of $20.92. The company has a market capitalization of $1.09 billion and a P/E ratio of -1.68. Seaport Therapeutics has a 12-month low of $14.85 and a 12-month high of $28.38.

Seaport Therapeutics (NASDAQ:SPTX) last released its quarterly earnings results on Monday, November 2nd. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.09. As a group, research analysts predict that Seaport Therapeutics will post -4.45 EPS for the current year.

Insider Transactions at Seaport Therapeutics

In related news, Director Denice Torres purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was purchased at an average price of $19.86 per share, with a total value of $99,300.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $99,300. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On Seaport Therapeutics

A number of large investors have recently bought and sold shares of the stock. Alps Advisors Inc. increased its holdings in shares of Seaport Therapeutics by 30.5% during the 3rd quarter. Alps Advisors Inc. now owns 70,921 shares of the company’s stock worth $1,430,000 after buying an additional 16,593 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Seaport Therapeutics in the 2nd quarter worth $362,000. Squarepoint Ops LLC purchased a new position in shares of Seaport Therapeutics in the 2nd quarter worth $538,000. State Street Corp acquired a new position in Seaport Therapeutics in the second quarter valued at $1,448,000. Finally, Alyeska Investment Group L.P. acquired a new position in Seaport Therapeutics in the second quarter valued at $1,629,000.

About Seaport Therapeutics

Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for central nervous system (CNS) disorders. The company uses its Glyph platform, a technology designed to create prodrugs that may improve the delivery, tolerability, and effectiveness of certain therapies, including treatments intended to reach the brain.

Seaport’s pipeline includes investigational therapies for neurological and neuropsychiatric conditions. Its programs have included GTX-102, an oral investigational medicine being developed for Angelman syndrome, a rare genetic neurodevelopmental disorder, as well as additional candidates aimed at addressing unmet needs in CNS care.

The company was established with support from PureTech Health and is headquartered in Boston, Massachusetts.