Seaport Therapeutics, Inc. (NASDAQ:SPTX) Given Consensus Rating of “Hold” by Brokerages

Shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $38.40.

Several research analysts have recently commented on the company. Citigroup started coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They issued a “buy” rating and a $35.00 target price for the company. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Seaport Therapeutics in a research note on Tuesday, August 4th. Wolfe Research initiated coverage on shares of Seaport Therapeutics in a report on Tuesday, July 7th. They issued a “hold” rating for the company. JPMorgan Chase & Co. initiated coverage on shares of Seaport Therapeutics in a report on Tuesday, May 26th. They set an “overweight” rating and a $42.00 target price on the stock. Finally, UBS Group downgraded shares of Seaport Therapeutics to a “sell” rating in a research report on Tuesday, June 9th.

Seaport Therapeutics Stock Up 2.3%

NASDAQ:SPTX opened at $23.62 on Friday. The firm has a market capitalization of $1.26 billion and a P/E ratio of -2.28. Seaport Therapeutics has a one year low of $14.85 and a one year high of $24.48. The stock has a 50-day moving average price of $19.71.

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, analysts expect that Seaport Therapeutics will post -4.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Seaport Therapeutics news, Director Robert J. Hombach bought 13,000 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $18.14 per share, with a total value of $235,820.00. Following the completion of the acquisition, the director directly owned 13,000 shares of the company’s stock, valued at approximately $235,820. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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.