Seaport Therapeutics (NASDAQ:SPTX) Stock Bumped Up to “Strong-Buy” by Raymond James Financial

Raymond James Financial upgraded shares of Seaport Therapeutics (NASDAQ:SPTX) to a strong-buy rating in a research report sent to investors on Friday,Zacks reports.

Other analysts have also issued research reports about the company. JonesTrading began coverage on Seaport Therapeutics in a research note on Wednesday, August 26th. They set a “buy” rating and a $32.00 price objective on the stock. UBS Group downgraded shares of Seaport Therapeutics to a “sell” rating in a research note on Tuesday, June 9th. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Seaport Therapeutics in a report on Thursday, September 10th. Weiss Ratings assumed coverage on shares of Seaport Therapeutics in a research note on Tuesday, August 11th. They set a “sell (d+)” rating on the stock. Finally, Wolfe Research assumed coverage on shares of Seaport Therapeutics in a research note on Tuesday, July 7th. They set a “hold” rating on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Seaport Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $38.57.

Seaport Therapeutics Trading Up 1.9%

Shares of NASDAQ:SPTX opened at $21.52 on Friday. The company’s fifty day moving average is $22.87. The firm has a market cap of $1.15 billion and a PE ratio of -1.78. Seaport Therapeutics has a one year low of $14.85 and a one year high of $28.38.

Seaport Therapeutics (NASDAQ:SPTX) last released its quarterly 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). As a group, equities analysts anticipate that Seaport Therapeutics will post -4.6 EPS for the current year.

Institutional Investors Weigh In On Seaport Therapeutics

Several hedge funds have recently made changes to their positions in SPTX. TRV GP VI LLC acquired a new stake in shares of Seaport Therapeutics during the second quarter worth $44,769,742. Braidwell LP acquired a new position in Seaport Therapeutics in the second quarter valued at $10,860,000. Citadel Advisors LLC acquired a new position in Seaport Therapeutics in the second quarter valued at $4,152,000. The Manufacturers Life Insurance Company purchased a new position in Seaport Therapeutics during the second quarter worth about $1,793,000. Finally, Alyeska Investment Group L.P. purchased a new position in Seaport Therapeutics during the second quarter worth about $1,629,000.

Seaport Therapeutics Company Profile

Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for central nervous system (CNS) disorders. The company is working to advance treatments for conditions in areas such as psychiatry and neurology, with the goal of addressing significant limitations associated with existing therapies.

Seaport’s drug-development efforts are supported by its proprietary Glyph platform, which is designed to enable oral delivery of therapeutics that have historically required injection or infusion.