JPMorgan Chase & Co. Issues Positive Forecast for Seaport Therapeutics (NASDAQ:SPTX) Stock Price

Seaport Therapeutics (NASDAQ:SPTX) had its price target upped by equities researchers at JPMorgan Chase & Co. from $40.00 to $41.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 101.08% from the stock’s current price.

A number of other research firms have also recently weighed in on SPTX. Canaccord Genuity Group started coverage on shares of Seaport Therapeutics in a research report on Wednesday, October 14th. They issued a “buy” rating and a $28.00 price objective for the company. Raymond James Financial began coverage on shares of Seaport Therapeutics in a report on Friday, September 25th. They set a “strong-buy” rating and a $46.00 price objective for the company. JonesTrading assumed coverage on shares of Seaport Therapeutics in a research report on Wednesday, August 26th. They issued a “buy” rating and a $32.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Seaport Therapeutics in a research note on Thursday, October 8th. Finally, Seaport Research Partners set a $28.00 price objective on Seaport Therapeutics in a research note on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Seaport Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $37.12.

Seaport Therapeutics Stock Performance

Seaport Therapeutics stock traded down $0.57 during trading on Thursday, reaching $20.39. 221,061 shares of the company’s stock were exchanged, compared to its average volume of 228,027. The business’s 50-day simple moving average is $20.92. Seaport Therapeutics has a 52-week low of $14.85 and a 52-week high of $28.38. The company has a market cap of $1.09 billion and a price-to-earnings ratio of -1.68.

Seaport Therapeutics (NASDAQ:SPTX) last issued its quarterly earnings data on Monday, November 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.09. As a group, research analysts anticipate that Seaport Therapeutics will post -4.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Denice Torres acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were purchased at an average cost of $19.86 per share, for a total transaction of $99,300.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at $99,300. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. TRV GP VI LLC acquired a new stake in shares of Seaport Therapeutics in the second quarter valued at approximately $44,769,742. Braidwell LP bought a new stake in shares of Seaport Therapeutics during the second quarter valued at approximately $10,860,000. Citadel Advisors LLC bought a new stake in shares of Seaport Therapeutics during the second quarter valued at approximately $4,152,000. The Manufacturers Life Insurance Company acquired a new position in shares of Seaport Therapeutics during the second quarter worth approximately $1,793,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Seaport Therapeutics during the second quarter worth approximately $1,629,000.

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.