Seaport Therapeutics, Inc. (NASDAQ:SPTX) Stock Has Average Price Target of $37.25 According to Brokerages

Key Points

• Analyst sentiment is moderately bullish: Thirteen firms give Seaport Therapeutics a consensus “Moderate Buy” rating, with an average 12-month price target of $37.25 versus the stock’s reported $20.76 opening price.
• Institutional interest has increased: Several major investors, including TRV GP VI, Citadel Advisors, State Street and Manufacturers Life Insurance, recently established new positions in the company.
• The company remains loss-making and missed estimates: Seaport reported a quarterly loss of $1.78 per share, wider than the expected $0.71 loss, while analysts project a full-year loss of $4.52 per share.

Seaport Therapeutics, Inc. (NASDAQ:SPTX - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $37.25.

A number of brokerages recently commented on SPTX. UBS Group restated a "buy" rating on shares of Seaport Therapeutics in a research report on Thursday, October 8th. Wolfe Research initiated coverage on Seaport Therapeutics in a research report on Tuesday, July 7th. They set a "hold" rating on the stock. JonesTrading started coverage on Seaport Therapeutics in a research note on Wednesday, August 26th. They set a "buy" rating and a $32.00 target price for the company. HC Wainwright reissued a "buy" rating and issued a $50.00 price target on shares of Seaport Therapeutics in a report on Thursday, October 8th. Finally, Raymond James Financial began coverage on Seaport Therapeutics in a report on Friday, September 25th. They issued a "strong-buy" rating and a $46.00 price target for the company.

Institutional Investors Weigh In On Seaport Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TRV GP VI LLC acquired a new position in shares of Seaport Therapeutics during the 2nd quarter worth $44,769,742. Citadel Advisors LLC purchased a new stake in Seaport Therapeutics during the second quarter worth about $4,152,000. The Manufacturers Life Insurance Company purchased a new stake in Seaport Therapeutics during the second quarter worth about $1,793,000. State Street Corp purchased a new stake in Seaport Therapeutics during the second quarter worth about $1,448,000. Finally, Alyeska Investment Group L.P. acquired a new position in Seaport Therapeutics during the second quarter worth about $1,629,000.

Seaport Therapeutics Trading Up 5.2%

Shares of NASDAQ:SPTX opened at $20.76 on Friday. The stock has a market capitalization of $1.11 billion and a P/E ratio of -1.71. The company has a 50-day moving average price of $21.60. Seaport Therapeutics has a fifty-two week low of $14.85 and a fifty-two week high of $28.38.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.71) by ($1.07). As a group, sell-side analysts forecast that Seaport Therapeutics will post -4.52 earnings per share for the current fiscal year.

Seaport Therapeutics Company Profile

Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for central nervous system (CNS) disorders. The company uses its Glyph platform, a technology designed to create prodrugs that may improve the delivery, tolerability, and effectiveness of certain therapies, including treatments intended to reach the brain.

Seaport's pipeline includes investigational therapies for neurological and neuropsychiatric conditions. Its programs have included GTX-102, an oral investigational medicine being developed for Angelman syndrome, a rare genetic neurodevelopmental disorder, as well as additional candidates aimed at addressing unmet needs in CNS care.

The company was established with support from PureTech Health and is headquartered in Boston, Massachusetts.

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