Seaport Therapeutics (NASDAQ:SPTX) Stock Rating Upgraded by HC Wainwright

Key Points

• HC Wainwright upgraded Seaport Therapeutics to a strong-buy rating, adding to a generally positive analyst outlook on the stock.
• Across recent coverage, Seaport Therapeutics has a consensus rating of Moderate Buy and an average price target of $38.40, with several firms issuing buy or outperform ratings.
• The company reported quarterly earnings of ($10.34) per share, beating estimates by $0.30, while insider buying from a director and a major shareholder signaled continued confidence.

Seaport Therapeutics (NASDAQ:SPTX - Get Free Report) was upgraded by analysts at HC Wainwright to a "strong-buy" rating in a report issued on Wednesday,Zacks.com reports.

A number of other research firms also recently weighed in on SPTX. Wolfe Research began coverage on Seaport Therapeutics in a research note on Tuesday, July 7th. They issued a "hold" rating on the stock. Stifel Nicolaus started coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They set a "buy" rating and a $30.00 target price for the company. Leerink Partners assumed coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They issued an "outperform" rating and a $35.00 price objective on the stock. Seaport Research Partners set a $50.00 price objective on shares of Seaport Therapeutics in a research note on Wednesday. Finally, Wall Street Zen upgraded Seaport Therapeutics to a "hold" rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.40.

Seaport Therapeutics Stock Up 0.0%

Shares of NASDAQ:SPTX opened at $20.45 on Wednesday. The company has a 50-day simple moving average of $18.25. The stock has a market capitalization of $1.09 billion and a PE ratio of -1.98. Seaport Therapeutics has a one year low of $14.85 and a one year high of $23.00.

Seaport Therapeutics (NASDAQ:SPTX - Get Free Report) last posted its quarterly earnings data on Monday, June 8th. The company reported ($10.34) earnings per share for the quarter, topping analysts' consensus estimates of ($10.64) by $0.30.

Insider Activity at Seaport Therapeutics

In related news, Director Robert J. Hombach purchased 13,000 shares of the firm's stock in a transaction on Monday, June 22nd. The stock was purchased at an average price of $18.14 per share, for a total transaction of $235,820.00. Following the acquisition, the director directly owned 13,000 shares in the company, valued at $235,820. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Arch Venture Partners Xii, Llc bought 1,100,000 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was purchased at an average price of $18.00 per share, with a total value of $19,800,000.00. Following the completion of the purchase, the insider directly owned 6,294,951 shares of the company's stock, valued at approximately $113,309,118. This trade represents a 21.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

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