Seaport Therapeutics' (SPTX) Buy Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed its Buy rating on Seaport Therapeutics, maintaining a $50 price target that implies 104.75% upside from the prior close.
• Analyst sentiment is mixed: five analysts rate the stock Buy, three Hold, and two Sell, resulting in a consensus Hold rating and $38.40 average target price.
• Seaport reported a quarterly loss of $1.78 per share, missing estimates by $1.07. The stock opened at $24.42, while a director purchased 13,000 shares and Alyeska Investment Group acquired a new 75,000-share stake.

Seaport Therapeutics (NASDAQ:SPTX - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They presently have a $50.00 price objective on the stock. HC Wainwright's target price would suggest a potential upside of 104.75% from the stock's previous close.

Several other research firms have also weighed in on SPTX. Weiss Ratings initiated coverage on shares of Seaport Therapeutics in a research note on Tuesday, August 11th. They set a "sell (d+)" rating for the company. BNP Paribas Exane downgraded shares of Seaport Therapeutics to a "market perform" rating in a research report on Tuesday, May 26th. Wolfe Research initiated coverage on shares of Seaport Therapeutics in a report on Tuesday, July 7th. They issued a "hold" rating for the company. Stifel Nicolaus assumed coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They set a "buy" rating and a $30.00 price objective for the company. Finally, UBS Group lowered shares of Seaport Therapeutics to a "sell" rating in a research note on Tuesday, June 9th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Seaport Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $38.40.

Seaport Therapeutics Price Performance

Shares of NASDAQ SPTX opened at $24.42 on Thursday. The company's 50 day moving average price is $20.79. Seaport Therapeutics has a 52-week low of $14.85 and a 52-week high of $26.32. The firm has a market capitalization of $1.31 billion and a PE ratio of -2.01.

Seaport Therapeutics (NASDAQ:SPTX - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported ($1.78) EPS for the quarter, missing the consensus estimate of ($0.71) by ($1.07). As a group, research analysts anticipate that Seaport Therapeutics will post -4.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert J. Hombach bought 13,000 shares of the company's stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $18.14 per share, with a total value of $235,820.00. Following the completion of the transaction, the director directly owned 13,000 shares of the company's stock, valued at approximately $235,820. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Seaport Therapeutics

A hedge fund recently bought a new stake in Seaport Therapeutics stock. Alyeska Investment Group L.P. acquired a new stake in Seaport Therapeutics, Inc. (NASDAQ:SPTX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 75,000 shares of the company's stock, valued at approximately $1,629,000. Alyeska Investment Group L.P. owned about 0.14% of Seaport Therapeutics as of its most recent SEC filing.

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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