Seaport Therapeutics (NASDAQ:SPTX) Hits New 12-Month High – Still a Buy?

Shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX) hit a new 52-week high during trading on Thursday . The company traded as high as $23.34 and last traded at $23.09, with a volume of 106561 shares changing hands. The stock had previously closed at $22.34.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SPTX. JPMorgan Chase & Co. assumed coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They issued an “overweight” rating and a $42.00 price target on the stock. UBS Group downgraded Seaport Therapeutics to a “sell” rating in a research report on Tuesday, June 9th. Stifel Nicolaus began coverage on Seaport Therapeutics in a research note on Tuesday, May 26th. They issued a “buy” rating and a $30.00 price objective for the company. Citigroup assumed coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They set a “buy” rating and a $35.00 target price for the company. Finally, Wall Street Zen raised Seaport Therapeutics to a “hold” rating in a research note on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $38.40.

Seaport Therapeutics Trading Up 2.3%

The firm has a 50-day simple moving average of $19.71. The company has a market cap of $1.26 billion and a PE ratio of -2.28.

Seaport Therapeutics (NASDAQ:SPTX) last posted its earnings results 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). On average, equities analysts forecast that Seaport Therapeutics, Inc. will post -4.33 EPS for the current fiscal year.

Insider Activity at Seaport Therapeutics

In related news, Director Robert J. Hombach acquired 13,000 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $18.14 per share, with a total value of $235,820.00. Following the acquisition, the director directly owned 13,000 shares of the company’s stock, valued at approximately $235,820. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

About Seaport Therapeutics

Seaport Therapeutics Inc is a clinical-stage therapeutics company focused on inventing and developing new medicines for patients with depression, anxiety and other debilitating neuropsychiatric disorders. Seaport Therapeutics Inc is based in BOSTON.