Seaport Therapeutics (NASDAQ:SPTX) Now Covered by Analysts at JonesTrading

Key Points

• JonesTrading initiated coverage of Seaport Therapeutics with a “buy” rating and a $32 price target, implying 27.64% upside from the stock’s $25.07 price.
• Analyst sentiment is mixed: the stock has a consensus “hold” rating and an average price target of $37.33, despite several buy and overweight ratings and recent sell downgrades.
• Seaport reported quarterly EPS of -$1.78, missing the consensus estimate of -$0.71. Shares were up 1% in Wednesday trading, while an insider also purchased 13,000 shares in June.

JonesTrading initiated coverage on shares of Seaport Therapeutics (NASDAQ:SPTX - Get Free Report) in a report released on Wednesday,Benzinga reports. The firm set a "buy" rating and a $32.00 price target on the stock. JonesTrading's target price would suggest a potential upside of 27.64% from the company's current price.

SPTX has been the topic of a number of other reports. JPMorgan Chase & Co. began coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They set an "overweight" rating and a $42.00 price target on the stock. Weiss Ratings assumed coverage on shares of Seaport Therapeutics in a report on Tuesday, August 11th. They issued a "sell (d+)" rating for the company. Leerink Partners initiated coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They set an "outperform" rating and a $35.00 target price on the stock. Citigroup started coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They set a "buy" rating and a $35.00 target price on the stock. Finally, UBS Group cut shares of Seaport Therapeutics to a "sell" rating in a report on Tuesday, June 9th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $37.33.

Seaport Therapeutics Stock Up 1.0%

Shares of NASDAQ SPTX traded up $0.24 during trading hours on Wednesday, reaching $25.07. 14,956 shares of the stock were exchanged, compared to its average volume of 210,191. The company has a market cap of $1.34 billion and a price-to-earnings ratio of -2.07. The company's fifty day simple moving average is $21.31. Seaport Therapeutics has a 52 week low of $14.85 and a 52 week high of $26.47.

Seaport Therapeutics (NASDAQ:SPTX - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported ($1.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($1.07). On average, research analysts predict that Seaport Therapeutics will post -4.6 EPS for the current fiscal year.

Insider Activity at Seaport Therapeutics

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

Hedge Funds Weigh In On Seaport Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC acquired a new stake in Seaport Therapeutics in the second quarter valued at approximately $362,000. Alyeska Investment Group L.P. bought a new position in shares of Seaport Therapeutics in the 2nd quarter valued at $1,629,000. Braidwell LP bought a new position in shares of Seaport Therapeutics in the 2nd quarter valued at $10,860,000. Finally, TRV GP VI LLC acquired a new stake in shares of Seaport Therapeutics during the 2nd quarter valued at $44,769,742,000.

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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