Analysts Set Seaport Therapeutics, Inc. (NASDAQ:SPTX) Target Price at $35.50

Shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX) have been assigned an average recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $35.50.

SPTX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on Seaport Therapeutics in a research note on Tuesday, May 26th. They issued an “overweight” rating and a $42.00 price objective on the stock. Seaport Research Partners set a $42.00 price objective on Seaport Therapeutics in a research note on Tuesday, May 26th. Zacks Research upgraded Seaport Therapeutics to a “hold” rating in a research note on Wednesday, May 27th. BNP Paribas Exane lowered Seaport Therapeutics to a “market perform” rating in a research note on Tuesday, May 26th. Finally, Stifel Nicolaus initiated coverage on Seaport Therapeutics in a research note on Tuesday, May 26th. They issued a “buy” rating and a $30.00 price objective on the stock.

Insider Activity

In other news, Director Robert J. Hombach purchased 13,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average cost 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. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Arch Venture Partners Xii, Llc purchased 1,100,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $19,800,000.00. Following the completion of the purchase, the insider directly owned 6,294,951 shares of the company’s stock, valued at approximately $113,309,118. This trade represents a 21.17% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Seaport Therapeutics Price Performance

Seaport Therapeutics stock opened at $21.40 on Friday. Seaport Therapeutics has a 52 week low of $14.85 and a 52 week high of $23.00.

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