Seaport Therapeutics, Inc. (NASDAQ:SPTX) Stock Has Consensus Target Price of $38.57

Key Points

• Analysts have a “Moderate Buy” consensus on Seaport Therapeutics, with 6 buy, 1 strong-buy, 3 hold and 2 sell ratings. The average 12-month price target is $38.57, compared with shares opening at $21.52.
• Several firms recently initiated coverage, including Raymond James and Seaport Research Partners with $46 price targets, while JonesTrading set a $32 target; Wolfe Research rated the stock hold and Weiss Ratings rated it sell.
• Institutional investors including TRV GP VI, Braidwell and Citadel recently established new positions. Seaport reported a quarterly loss of $1.78 per share, missing the $0.71 consensus estimate, and analysts expect a full-year loss of $4.60 per share.

Seaport Therapeutics, Inc. (NASDAQ:SPTX - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $38.57.

Several equities analysts have recently issued reports on SPTX shares. Weiss Ratings started coverage on Seaport Therapeutics in a research report on Tuesday, August 11th. They set a "sell (d+)" rating for the company. Wolfe Research began coverage on shares of Seaport Therapeutics in a research note on Tuesday, July 7th. They set a "hold" rating on the stock. Raymond James Financial assumed coverage on shares of Seaport Therapeutics in a research note on Friday. They set a "strong-buy" rating and a $46.00 price objective on the stock. Seaport Research Partners set a $46.00 target price on shares of Seaport Therapeutics in a research note on Friday. Finally, JonesTrading started coverage on shares of Seaport Therapeutics in a report on Wednesday, August 26th. They issued a "buy" rating and a $32.00 target price on the stock.

Institutional Trading of Seaport Therapeutics

A number of large investors have recently made changes to their positions in SPTX. TRV GP VI LLC acquired a new stake in Seaport Therapeutics during the 2nd quarter worth $44,769,742. Braidwell LP bought a new stake in shares of Seaport Therapeutics in the second quarter worth about $10,860,000. Citadel Advisors LLC bought a new stake in shares of Seaport Therapeutics in the second quarter worth about $4,152,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Seaport Therapeutics during the second quarter worth about $1,793,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Seaport Therapeutics during the second quarter worth about $1,629,000.

Seaport Therapeutics Stock Performance

Shares of Seaport Therapeutics stock opened at $21.52 on Monday. Seaport Therapeutics has a 12 month low of $14.85 and a 12 month high of $28.38. The business's fifty day moving average is $22.87. The firm has a market capitalization of $1.15 billion and a PE ratio of -1.78.

Seaport Therapeutics (NASDAQ:SPTX - Get Free Report) last released its 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). As a group, research analysts predict that Seaport Therapeutics will post -4.6 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.