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

Shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX) have earned an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $37.25.

A number of brokerages have commented on SPTX. Raymond James Financial initiated coverage on shares of Seaport Therapeutics in a research note on Friday, September 25th. They issued a “strong-buy” rating and a $46.00 target price on the stock. Wolfe Research began coverage on shares of Seaport Therapeutics in a research note on Tuesday, July 7th. They set a “hold” rating for the company. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Seaport Therapeutics in a report on Thursday, October 8th. JonesTrading started coverage on Seaport Therapeutics in a report on Wednesday, August 26th. They issued a “buy” rating and a $32.00 price target for the company. Finally, Weiss Ratings cut Seaport Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th.

Seaport Therapeutics Trading Up 2.2%

NASDAQ SPTX opened at $21.28 on Friday. The business has a 50-day moving average of $21.39. Seaport Therapeutics has a 12 month low of $14.85 and a 12 month high of $28.38.

Seaport Therapeutics (NASDAQ:SPTX) last posted its quarterly 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, equities research analysts anticipate that Seaport Therapeutics will post -4.52 earnings per share for the current year.

Hedge Funds Weigh In On Seaport Therapeutics

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

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.