Seaport Therapeutics (NASDAQ:SPTX) Receives Buy Rating from HC Wainwright

Seaport Therapeutics (NASDAQ:SPTX)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $50.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 104.75% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Seaport Therapeutics in a report on Tuesday, May 26th. They issued an “overweight” rating and a $42.00 price objective for the company. UBS Group cut shares of Seaport Therapeutics to a “sell” rating in a research note on Tuesday, June 9th. Wolfe Research initiated coverage on shares of Seaport Therapeutics in a research report on Tuesday, July 7th. They set a “hold” rating on the stock. Leerink Partners started coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They issued an “outperform” rating and a $35.00 price target for the company. Finally, Citigroup began coverage on shares of Seaport Therapeutics in a report on Tuesday, May 26th. They issued a “buy” rating and a $35.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Seaport Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $38.40.

Seaport Therapeutics Stock Up 1.9%

Shares of Seaport Therapeutics stock opened at $24.42 on Thursday. The firm’s fifty day simple moving average is $20.79. The company has a market cap of $1.31 billion and a P/E ratio of -2.01. Seaport Therapeutics has a 1-year low of $14.85 and a 1-year high of $26.32.

Seaport Therapeutics (NASDAQ:SPTX) last released its quarterly earnings results on Monday, August 3rd. The company reported ($1.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($1.07). Equities research analysts predict that Seaport Therapeutics will post -4.6 earnings per share for the current year.

Insiders Place Their Bets

In other Seaport Therapeutics news, Director Robert J. Hombach acquired 13,000 shares of Seaport Therapeutics stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $18.14 per share, for a total transaction of $235,820.00. Following the transaction, the director owned 13,000 shares in the company, valued at approximately $235,820. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Trading of Seaport Therapeutics

An institutional investor recently bought a new position in Seaport Therapeutics stock. TRV GP VI LLC acquired a new stake in shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,061,222 shares of the company’s stock, valued at approximately $44,769,742,000. Seaport Therapeutics comprises about 19.3% of TRV GP VI LLC’s portfolio, making the stock its 2nd largest holding. TRV GP VI LLC owned about 3.85% of Seaport Therapeutics at the end of the most recent reporting period.

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.