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

Shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX) have earned an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $37.25.

Several research firms recently commented on SPTX. Seaport Research Partners set a $28.00 price objective on shares of Seaport Therapeutics in a research report on Wednesday, October 14th. Canaccord Genuity Group began coverage on shares of Seaport Therapeutics in a research note on Wednesday, October 14th. They issued a “buy” rating and a $28.00 price objective on the stock. JonesTrading initiated coverage on shares of Seaport Therapeutics in a report on Wednesday, August 26th. They set a “buy” rating and a $32.00 target price for the company. UBS Group restated a “buy” rating on shares of Seaport Therapeutics in a research report on Thursday, October 8th. Finally, Wolfe Research assumed coverage on shares of Seaport Therapeutics in a report on Tuesday, July 7th. They issued a “hold” rating on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. TRV GP VI LLC acquired a new position in shares of Seaport Therapeutics during the 2nd quarter worth approximately $44,769,742. Braidwell LP acquired a new stake in Seaport Therapeutics during the 2nd quarter valued at $10,860,000. Citadel Advisors LLC purchased a new position in Seaport Therapeutics during the second quarter worth $4,152,000. The Manufacturers Life Insurance Company purchased a new position in Seaport Therapeutics during the second quarter worth $1,793,000. Finally, Alyeska Investment Group L.P. purchased a new position in Seaport Therapeutics during the second quarter worth $1,629,000.

Seaport Therapeutics Stock Performance

Shares of SPTX stock opened at $20.76 on Friday. The business’s fifty day moving average price is $21.60. The firm has a market capitalization of $1.11 billion and a PE ratio of -1.71. Seaport Therapeutics has a 1 year low of $14.85 and a 1 year high of $28.38.

Seaport Therapeutics (NASDAQ:SPTX) last posted 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, sell-side analysts anticipate that Seaport Therapeutics will post -4.52 EPS for the current year.

About Seaport Therapeutics

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.