Seaport Therapeutics (NASDAQ:SPTX – Get Free Report) was upgraded by Raymond James Financial to a “strong-buy” rating in a note issued to investors on Friday, Zacks reports.
Other analysts have also issued reports about the stock. HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Seaport Therapeutics in a research note on Thursday, September 10th. Seaport Research Partners set a $46.00 price target on shares of Seaport Therapeutics in a research note on Friday. UBS Group downgraded shares of Seaport Therapeutics to a “sell” rating in a research report on Tuesday, June 9th. JonesTrading began coverage on shares of Seaport Therapeutics in a report on Wednesday, August 26th. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Weiss Ratings began coverage on shares of Seaport Therapeutics in a research report on Tuesday, August 11th. They set a “sell (d+)” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Seaport Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $38.57.
Get Our Latest Stock Analysis on SPTX
Seaport Therapeutics Stock Performance
Seaport Therapeutics (NASDAQ:SPTX – Get Free Report) last issued 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). Equities analysts anticipate that Seaport Therapeutics will post -4.6 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Seaport Therapeutics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp acquired a new stake in Seaport Therapeutics during the second quarter worth approximately $1,448,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Seaport Therapeutics during the 2nd quarter worth approximately $1,793,000. Squarepoint Ops LLC acquired a new position in shares of Seaport Therapeutics in the 2nd quarter valued at $538,000. Citadel Advisors LLC acquired a new position in shares of Seaport Therapeutics in the 2nd quarter valued at $4,152,000. Finally, HighTower Advisors LLC purchased a new position in shares of Seaport Therapeutics in the 2nd quarter valued at $362,000.
About Seaport Therapeutics
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.
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