Seaport Therapeutics (NASDAQ:SPTX) Given "Buy" Rating at HC Wainwright

Key Points

• HC Wainwright reaffirmed a “Buy” rating on Seaport Therapeutics and set a $50 price target, implying 178.86% upside from the prior close.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $38.57, though ratings range from Strong Buy to Sell.
• Seaport reported a quarterly loss of $1.78 per share, missing estimates by $1.07, and analysts expect a full-year loss of approximately $4.52 per share.

Seaport Therapeutics (NASDAQ:SPTX - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $50.00 target price on the stock. HC Wainwright's price target indicates a potential upside of 178.86% from the stock's previous close.

A number of other equities research analysts have also commented on the company. JonesTrading began coverage on Seaport Therapeutics in a research report on Wednesday, August 26th. They set a "buy" rating and a $32.00 price objective for the company. Seaport Research Partners set a $46.00 price objective on Seaport Therapeutics in a research report on Friday, September 25th. Raymond James Financial started coverage on Seaport Therapeutics in a report on Friday, September 25th. They set a "strong-buy" rating and a $46.00 price target for the company. Wolfe Research started coverage on Seaport Therapeutics in a report on Tuesday, July 7th. They set a "hold" rating for the company. Finally, Weiss Ratings lowered Seaport Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.57.

Seaport Therapeutics Price Performance

Shares of NASDAQ SPTX opened at $17.93 on Thursday. Seaport Therapeutics has a one year low of $14.85 and a one year high of $28.38. The firm has a market cap of $959.79 million and a price-to-earnings ratio of -1.48. The business's 50-day simple moving average is $22.54.

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). On average, equities research analysts forecast that Seaport Therapeutics will post -4.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Seaport Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPTX. TRV GP VI LLC acquired a new stake in Seaport Therapeutics in the 2nd quarter worth approximately $44,769,742. Braidwell LP acquired a new stake in Seaport Therapeutics in the 2nd quarter worth approximately $10,860,000. Citadel Advisors LLC acquired a new stake in Seaport Therapeutics in the 2nd quarter worth approximately $4,152,000. The Manufacturers Life Insurance Company acquired a new stake in Seaport Therapeutics in the 2nd quarter worth approximately $1,793,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Seaport Therapeutics in the 2nd quarter worth approximately $1,629,000.

Seaport Therapeutics Company Profile

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.