Seaport Therapeutics (NASDAQ:SPTX) Earns Buy Rating from Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of Seaport Therapeutics (NASDAQ:SPTX) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $50.00 target price on the stock.

A number of other brokerages have also recently weighed in on SPTX. UBS Group cut shares of Seaport Therapeutics to a “sell” rating in a report on Tuesday, June 9th. Wall Street Zen upgraded shares of Seaport Therapeutics to a “hold” rating in a report on Saturday, May 9th. Zacks Research raised shares of Seaport Therapeutics to a “hold” rating in a research report on Wednesday, May 27th. Seaport Research Partners set a $50.00 price target on shares of Seaport Therapeutics in a research note on Wednesday. Finally, BNP Paribas Exane downgraded shares of Seaport Therapeutics to a “market perform” rating in a research note on Tuesday, May 26th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.40.

Seaport Therapeutics Stock Performance

NASDAQ SPTX opened at $20.85 on Wednesday. The firm has a market cap of $1.12 billion and a P/E ratio of -2.02. The firm has a 50-day moving average price of $18.43. Seaport Therapeutics has a 1-year low of $14.85 and a 1-year high of $23.00.

Seaport Therapeutics (NASDAQ:SPTX) last issued its quarterly earnings results on Monday, June 8th. The company reported ($10.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($10.64) by $0.30.

Insider Transactions at Seaport Therapeutics

In related news, major shareholder Arch Venture Partners Xii, Llc acquired 1,100,000 shares of the stock in a transaction dated Monday, May 4th. The stock was acquired at an average cost of $18.00 per share, with a total value 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. This represents a 21.17% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert J. Hombach bought 13,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average price of $18.14 per share, for a total transaction of $235,820.00. Following the completion of the purchase, the director directly owned 13,000 shares of the company’s stock, valued at approximately $235,820. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.