Seaport Therapeutics (NASDAQ:SPTX) Releases Earnings Results, Beats Estimates By $0.30 EPS

Seaport Therapeutics (NASDAQ:SPTXGet Free Report) released its quarterly earnings data on Monday. The company reported ($10.34) earnings per share for the quarter, topping the consensus estimate of ($10.64) by $0.30, Zacks reports.

Seaport Therapeutics Stock Performance

Shares of SPTX stock opened at $16.44 on Monday. Seaport Therapeutics has a 1 year low of $14.85 and a 1 year high of $23.00.

Insiders Place Their Bets

In other news, major shareholder Arch Venture Partners Xii, Llc acquired 1,100,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was acquired at an average price of $18.00 per share, with a total value of $19,800,000.00. Following the completion of the transaction, the insider directly owned 6,294,951 shares of the company’s stock, valued at $113,309,118. This trade represents a 21.17% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus assumed coverage on Seaport Therapeutics in a research note on Tuesday, May 26th. They issued a “buy” rating and a $30.00 price target on the stock. Zacks Research upgraded shares of Seaport Therapeutics to a “hold” rating in a report on Wednesday, May 27th. Citigroup started coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They issued a “buy” rating and a $35.00 price objective on the stock. Leerink Partners started coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They set an “outperform” rating and a $35.00 target price for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They issued an “overweight” rating and a $42.00 price target on the stock. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

Get Our Latest Analysis on Seaport Therapeutics

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