HC Wainwright Reaffirms Buy Rating for Seaport Therapeutics (NASDAQ:SPTX)

Key Points

• HC Wainwright reaffirmed its Buy rating on Seaport Therapeutics with a $50 price target, implying approximately 130% upside from the stock’s $21.75 price.
• Analyst sentiment is mixed overall: six analysts rate the stock Buy, three Hold, and two Sell, resulting in a consensus Hold rating and an average target of $37.33.
• Seaport reported a quarterly loss of $1.78 per share, missing the $0.71 consensus estimate, while institutional investors including TRV GP VI and Braidwell initiated sizable positions during the second quarter.

Seaport Therapeutics (NASDAQ:SPTX - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $50.00 target price on the stock. HC Wainwright's target price indicates a potential upside of 129.89% from the stock's current price.

A number of other equities analysts have also recently commented on the company. Seaport Research Partners set a $32.00 price target on Seaport Therapeutics in a report on Tuesday, August 25th. Citigroup assumed coverage on Seaport Therapeutics in a research note on Tuesday, May 26th. They issued a "buy" rating and a $35.00 price objective on the stock. Zacks Research raised Seaport Therapeutics to a "hold" rating in a research report on Wednesday, May 27th. Wolfe Research started coverage on Seaport Therapeutics in a report on Tuesday, July 7th. They set a "hold" rating on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Seaport Therapeutics in a research note on Tuesday, May 26th. They issued an "overweight" rating and a $42.00 price target on the stock. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Seaport Therapeutics has a consensus rating of "Hold" and an average price target of $37.33.

Seaport Therapeutics Price Performance

NASDAQ SPTX opened at $21.75 on Thursday. The company has a market capitalization of $1.16 billion and a price-to-earnings ratio of -1.79. The stock's fifty day moving average price is $22.39. Seaport Therapeutics has a 1 year low of $14.85 and a 1 year high of $28.38.

Seaport Therapeutics (NASDAQ:SPTX - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($1.78) EPS for the quarter, missing analysts' consensus estimates of ($0.71) by ($1.07). As a group, sell-side analysts expect that Seaport Therapeutics will post -4.6 EPS for the current fiscal year.

Insider Activity at Seaport Therapeutics

In other news, Director Robert Hombach bought 13,000 shares of the stock in a transaction dated Monday, June 22nd. The shares were bought at an average price of $18.14 per share, for a total transaction of $235,820.00. Following the completion of the purchase, the director owned 13,000 shares in the company, valued at approximately $235,820. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Trading of Seaport Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. TRV GP VI LLC bought a new position in Seaport Therapeutics during the 2nd quarter worth $44,769,742. Braidwell LP acquired a new stake in shares of Seaport Therapeutics during the second quarter worth $10,860,000. Citadel Advisors LLC bought a new stake in shares of Seaport Therapeutics in the second quarter valued at about $4,152,000. The Manufacturers Life Insurance Company bought a new stake in shares of Seaport Therapeutics in the second quarter valued at about $1,793,000. Finally, Alyeska Investment Group L.P. bought a new position in Seaport Therapeutics during the second quarter worth about $1,629,000.

Seaport Therapeutics Company Profile

Seaport Therapeutics Inc is a clinical-stage therapeutics company focused on inventing and developing new medicines for patients with depression, anxiety and other debilitating neuropsychiatric disorders. Seaport Therapeutics Inc is based in BOSTON.

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