Seaport Therapeutics (NASDAQ:SPTX) Earns Outperform Rating from Analysts at Leerink Partners

Research analysts at Leerink Partners initiated coverage on shares of Seaport Therapeutics (NASDAQ:SPTX) in a research report issued on Tuesday. The firm set an “outperform” rating and a $35.00 price target on the stock. Leerink Partners’ target price would suggest a potential upside of 100.00% from the stock’s previous close.

Several other brokerages have also recently issued reports on SPTX. BNP Paribas Exane cut Seaport Therapeutics to a “market perform” rating in a report on Tuesday. Citigroup assumed coverage on Seaport Therapeutics in a report on Tuesday. They issued a “buy” rating and a $35.00 target price on the stock. Wall Street Zen raised Seaport Therapeutics to a “hold” rating in a report on Saturday, May 9th. Seaport Research Partners set a $42.00 target price on Seaport Therapeutics in a report on Tuesday. Finally, Stifel Nicolaus set a $30.00 target price on Seaport Therapeutics and gave the stock a “buy” rating in a report on Tuesday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.50.

Seaport Therapeutics Stock Performance

Shares of SPTX stock opened at $17.50 on Tuesday. Seaport Therapeutics has a 12-month low of $14.85 and a 12-month high of $23.00.

Insiders Place Their Bets

In related news, major shareholder Arch Venture Partners Xii, Llc acquired 1,100,000 shares of Seaport Therapeutics stock in a transaction on Monday, May 4th. The shares were bought at an average cost of $18.00 per share, with a total value 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 $113,309,118. The trade was a 21.17% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.