SpringWorks Therapeutics’ (SWTX) Buy Rating Reiterated at HC Wainwright

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They currently have a $74.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 26.25% from the company’s current price.

A number of other research analysts also recently weighed in on SWTX. Guggenheim decreased their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Evercore ISI upped their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Wedbush reiterated an “outperform” rating and issued a $81.00 price objective on shares of SpringWorks Therapeutics in a research report on Thursday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $71.50.

SpringWorks Therapeutics Stock Performance

NASDAQ SWTX traded down $1.32 on Friday, reaching $58.62. 1,378,996 shares of the company’s stock traded hands, compared to its average volume of 2,681,787. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of -15.11 and a beta of 0.81. The stock has a 50 day moving average price of $40.70 and a 200-day moving average price of $37.47. SpringWorks Therapeutics has a fifty-two week low of $28.21 and a fifty-two week high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The business had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. As a group, equities research analysts anticipate that SpringWorks Therapeutics will post -3.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Saqib Islam sold 10,672 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $59.92, for a total transaction of $639,466.24. Following the completion of the transaction, the chief executive officer now owns 1,063,953 shares in the company, valued at $63,752,063.76. This represents a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Badreddin Edris sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total transaction of $839,400.00. Following the transaction, the chief operating officer now owns 209,600 shares of the company’s stock, valued at approximately $8,796,912. This trade represents a 8.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 313,822 shares of company stock worth $16,802,876 in the last 90 days. Insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

Large investors have recently bought and sold shares of the business. Alpha DNA Investment Management LLC purchased a new stake in SpringWorks Therapeutics during the 3rd quarter valued at about $411,000. Ally Bridge Group NY LLC purchased a new stake in SpringWorks Therapeutics during the 3rd quarter valued at about $7,296,000. AMI Asset Management Corp purchased a new stake in SpringWorks Therapeutics during the 4th quarter valued at about $1,438,000. Los Angeles Capital Management LLC grew its stake in SpringWorks Therapeutics by 238.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock valued at $1,513,000 after acquiring an additional 33,255 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in SpringWorks Therapeutics by 13.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 602,227 shares of the company’s stock valued at $19,295,000 after acquiring an additional 73,613 shares in the last quarter.

About SpringWorks Therapeutics

SpringWorks Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is OGSIVEO (nirogacestat), an oral small molecule gamma secretase inhibitor that is in Phase III DeFi trial for the treatment of desmoid tumors; and Nirogacestat, is also in Phase 2 clinical development as a monotherapy for the treatment of ovarian granulosa cell tumors (GCT), a subtype of ovarian cancer.