Seaport Therapeutics, Inc. (NASDAQ:SPTX) Receives $35.50 Average PT from Brokerages

Seaport Therapeutics, Inc. (NASDAQ:SPTX) has received a consensus rating of “Hold” from the nine brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $38.40.

A number of analysts have recently weighed in on the stock. HC Wainwright initiated coverage on shares of Seaport Therapeutics in a research note on Wednesday, July 15th. They issued a “buy” rating and a $50.00 price target for the company. Zacks Research upgraded shares of Seaport Therapeutics to a “hold” rating in a research note on Wednesday, May 27th. Stifel Nicolaus assumed coverage on Seaport Therapeutics in a report on Tuesday, May 26th. They set a “buy” rating and a $30.00 target price on the stock. Leerink Partners assumed coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Wolfe Research initiated coverage on Seaport Therapeutics in a research note on Tuesday, July 7th. They set a “hold” rating for the company.

Insiders Place Their Bets

In other Seaport Therapeutics news, major shareholder Arch Venture Partners Xii, Llc purchased 1,100,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were purchased at an average cost of $18.00 per share, for a total transaction of $19,800,000.00. Following the completion of the transaction, the insider owned 6,294,951 shares in the company, valued at $113,309,118. The trade was a 21.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert J. Hombach purchased 13,000 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $18.14 per share, with a total value of $235,820.00. Following the completion of the acquisition, the director directly owned 13,000 shares in the company, valued at $235,820. The trade was a ? increase in their position. The SEC filing for this purchase provides additional information.

Seaport Therapeutics Stock Performance

NASDAQ:SPTX opened at $21.00 on Wednesday. The company has a market capitalization of $1.12 billion and a PE ratio of -2.03. Seaport Therapeutics has a 1 year low of $14.85 and a 1 year high of $23.00. The stock has a fifty day simple moving average of $18.64.

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