Seaport Therapeutics (NASDAQ:SPTX) Upgraded by HC Wainwright to Strong-Buy Rating

HC Wainwright upgraded shares of Seaport Therapeutics (NASDAQ:SPTX) to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

A number of other analysts have also issued reports on SPTX. BNP Paribas Exane lowered shares of Seaport Therapeutics to a “market perform” rating in a research note on Tuesday, May 26th. Stifel Nicolaus started coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They issued a “buy” rating and a $30.00 target price for the company. Wall Street Zen upgraded shares of Seaport Therapeutics to a “hold” rating in a research note on Saturday, May 9th. Seaport Research Partners set a $50.00 price target on shares of Seaport Therapeutics in a research report on Wednesday. Finally, Zacks Research upgraded Seaport Therapeutics to a “hold” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.40.

Seaport Therapeutics Trading Up 0.0%

Shares of NASDAQ SPTX opened at $20.45 on Wednesday. Seaport Therapeutics has a fifty-two week low of $14.85 and a fifty-two week high of $23.00. The company’s 50 day simple moving average is $18.25. The firm has a market cap of $1.09 billion and a price-to-earnings ratio of -1.98.

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

Insider Buying and Selling at Seaport Therapeutics

In other Seaport Therapeutics news, Director Robert J. Hombach bought 13,000 shares of the stock in a transaction on Monday, June 22nd. The stock was 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 in the company, valued at approximately $235,820. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Arch Venture Partners Xii, Llc bought 1,100,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $19,800,000.00. Following the completion of the acquisition, the insider directly owned 6,294,951 shares of the company’s stock, valued at $113,309,118. This trade represents a 21.17% increase in their position. The SEC filing for this purchase provides additional information.