Seaport Therapeutics (NASDAQ:SPTX) Given New $41.00 Price Target at JPMorgan Chase & Co.

Seaport Therapeutics (NASDAQ:SPTX) had its price objective lifted by JPMorgan Chase & Co. from $40.00 to $41.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

SPTX has been the topic of several other research reports. Raymond James Financial assumed coverage on shares of Seaport Therapeutics in a report on Friday, September 25th. They set a “strong-buy” rating and a $46.00 price target on the stock. JonesTrading began coverage on shares of Seaport Therapeutics in a research note on Wednesday, August 26th. They issued a “buy” rating and a $32.00 price objective for the company. Weiss Ratings downgraded shares of Seaport Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th. Canaccord Genuity Group initiated coverage on shares of Seaport Therapeutics in a research report on Wednesday, October 14th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Seaport Therapeutics in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.12.

Seaport Therapeutics Stock Performance

SPTX stock opened at $20.39 on Thursday. Seaport Therapeutics has a twelve month low of $14.85 and a twelve month high of $28.38. The company’s 50-day moving average is $20.77.

Seaport Therapeutics (NASDAQ:SPTX) last announced its quarterly earnings data on Monday, November 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.09. As a group, equities analysts forecast that Seaport Therapeutics will post -4.39 earnings per share for the current fiscal year.

Insider Transactions at Seaport Therapeutics

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

Institutional Investors Weigh In On Seaport Therapeutics

A number of institutional investors have recently added to or reduced their stakes in SPTX. TRV GP VI LLC purchased a new position in shares of Seaport Therapeutics in the second quarter worth $44,769,742. Citadel Advisors LLC purchased a new position in Seaport Therapeutics during the second quarter valued at $4,152,000. The Manufacturers Life Insurance Company purchased a new position in Seaport Therapeutics during the second quarter valued at $1,793,000. State Street Corp purchased a new position in Seaport Therapeutics during the second quarter valued at $1,448,000. Finally, Alyeska Investment Group L.P. bought a new stake in Seaport Therapeutics in the 2nd quarter valued at $1,629,000.

Seaport Therapeutics Company Profile

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.