Seaport Therapeutics (NASDAQ:SPTX) Announces Quarterly Earnings Results, Beats Estimates By $0.30 EPS

Seaport Therapeutics (NASDAQ:SPTX) posted its earnings results on Monday. The company reported ($10.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($10.64) by $0.30, Zacks reports.

Seaport Therapeutics Price Performance

SPTX opened at $16.44 on Monday. Seaport Therapeutics has a one year low of $14.85 and a one year high of $23.00.

Insider Activity at Seaport Therapeutics

In other Seaport Therapeutics news, major shareholder Arch Venture Partners Xii, Llc acquired 1,100,000 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were acquired at an average price of $18.00 per share, for a total transaction of $19,800,000.00. Following the acquisition, the insider owned 6,294,951 shares in the company, valued at $113,309,118. The trade was a 21.17% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SPTX. Citigroup assumed coverage on Seaport Therapeutics in a research note on Tuesday, May 26th. They set a “buy” rating and a $35.00 target price on the stock. JPMorgan Chase & Co. began coverage on Seaport Therapeutics in a report on Tuesday, May 26th. They issued an “overweight” rating and a $42.00 price objective on the stock. Wall Street Zen upgraded Seaport Therapeutics to a “hold” rating in a report on Saturday, May 9th. Leerink Partners began coverage on Seaport Therapeutics in a report on Tuesday, May 26th. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, Seaport Research Partners set a $42.00 price objective on Seaport Therapeutics in a report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.50.