Seaport Therapeutics (NASDAQ:SPTX) Sets New 52-Week High – Time to Buy?

Seaport Therapeutics, Inc. (NASDAQ:SPTX)’s stock price reached a new 52-week high on Thursday . The company traded as high as $23.34 and last traded at $23.09, with a volume of 106561 shares. The stock had previously closed at $22.34.

Analysts Set New Price Targets

SPTX has been the topic of several recent research reports. Wolfe Research started coverage on shares of Seaport Therapeutics in a report on Tuesday, July 7th. They issued a “hold” rating on the stock. Zacks Research upgraded Seaport Therapeutics to a “hold” rating in a research note on Wednesday, May 27th. Stifel Nicolaus started coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They set a “buy” rating and a $30.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Seaport Therapeutics in a report on Tuesday. Finally, Seaport Research Partners set a $50.00 price objective on shares of Seaport Therapeutics in a research note on Wednesday, July 15th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Seaport Therapeutics currently has an average rating of “Hold” and an average target price of $38.40.

Seaport Therapeutics Stock Up 3.4%

The stock’s fifty day moving average is $19.60.

Seaport Therapeutics (NASDAQ:SPTX) last announced 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). On average, research analysts anticipate that Seaport Therapeutics, Inc. will post -4.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert J. Hombach acquired 13,000 shares of Seaport Therapeutics stock in a transaction on Monday, June 22nd. The stock was bought at an average cost of $18.14 per share, for a total transaction of $235,820.00. Following the completion of the transaction, the director owned 13,000 shares of the company’s stock, valued at approximately $235,820. The trade was a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

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.