HC Wainwright reissued their buy rating on shares of Seaport Therapeutics (NASDAQ:SPTX – Free Report) in a research note released on Thursday, Marketbeat reports. The firm currently has a $50.00 price target on the stock.
SPTX has been the topic of several other reports. Weiss Ratings downgraded shares of Seaport Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. Wolfe Research began coverage on shares of Seaport Therapeutics in a research note on Tuesday, July 7th. They issued a “hold” rating for the company. Seaport Research Partners set a $46.00 price objective on shares of Seaport Therapeutics in a research note on Friday, September 25th. JonesTrading assumed coverage on Seaport Therapeutics in a research report on Wednesday, August 26th. They set a “buy” rating and a $32.00 target price for the company. Finally, Raymond James Financial initiated coverage on Seaport Therapeutics in a research note on Friday, September 25th. They set a “strong-buy” rating and a $46.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.57.
Read Our Latest Report on SPTX
Seaport Therapeutics Stock Performance
Seaport Therapeutics (NASDAQ:SPTX – Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($1.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($1.07). On average, sell-side analysts anticipate that Seaport Therapeutics will post -4.52 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. State Street Corp purchased a new position in Seaport Therapeutics in the 2nd quarter worth about $1,448,000. The Manufacturers Life Insurance Company purchased a new stake in Seaport Therapeutics in the 2nd quarter valued at about $1,793,000. Squarepoint Ops LLC purchased a new stake in Seaport Therapeutics in the 2nd quarter valued at about $538,000. Citadel Advisors LLC bought a new position in Seaport Therapeutics in the 2nd quarter worth about $4,152,000. Finally, HighTower Advisors LLC bought a new position in Seaport Therapeutics in the 2nd quarter worth about $362,000.
About Seaport Therapeutics
Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for neuropsychiatric and neurological disorders. The company’s research emphasizes therapies that modulate the brain’s GABAergic system, which plays an important role in mood, anxiety, and other central nervous system functions.
Seaport’s drug-development programs are based on its Glyph platform, a technology designed to improve the delivery of small-molecule medicines to the brain and enable oral versions of therapies that may otherwise require intravenous or other forms of administration.
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