Seaport Therapeutics, Inc. (NASDAQ:SPTX) Stock Has Average Target Price of $37.25

Shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $37.25.

Several research firms have recently commented on SPTX. UBS Group reiterated a “buy” rating on shares of Seaport Therapeutics in a research note on Thursday, October 8th. Raymond James Financial initiated coverage on shares of Seaport Therapeutics in a research note on Friday, September 25th. They issued a “strong-buy” rating and a $46.00 price target for the company. Weiss Ratings downgraded shares of Seaport Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Seaport Therapeutics in a report on Thursday, October 8th. Finally, Wolfe Research began coverage on shares of Seaport Therapeutics in a research report on Tuesday, July 7th. They issued a “hold” rating for the company.

Seaport Therapeutics Price Performance

Shares of Seaport Therapeutics stock opened at $21.10 on Friday. The firm’s 50-day simple moving average is $21.25. Seaport Therapeutics has a 1-year low of $14.85 and a 1-year high of $28.38.

Seaport Therapeutics (NASDAQ:SPTX) last released its quarterly earnings results on Monday, August 3rd. The company reported ($1.78) EPS for the quarter, missing the consensus estimate of ($0.71) by ($1.07). On average, analysts predict that Seaport Therapeutics will post -4.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Seaport Therapeutics

Hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC acquired a new stake in Seaport Therapeutics during the second quarter valued at approximately $362,000. Squarepoint Ops LLC acquired a new position in shares of Seaport Therapeutics in the 2nd quarter worth approximately $538,000. State Street Corp acquired a new position in shares of Seaport Therapeutics in the 2nd quarter worth approximately $1,448,000. Alyeska Investment Group L.P. acquired a new position in shares of Seaport Therapeutics in the 2nd quarter worth approximately $1,629,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Seaport Therapeutics in the 2nd quarter valued at approximately $1,793,000.

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.