SpringWorks Therapeutics (NASDAQ:SWTX) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a $74.00 target price on the stock.

Other research analysts also recently issued research reports about the company. Wedbush restated an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday. Guggenheim reduced their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Evercore ISI began coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 target price for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics has a consensus rating of “Buy” and a consensus price target of $70.83.

SpringWorks Therapeutics Stock Up 7.5 %

Shares of NASDAQ SWTX opened at $59.28 on Wednesday. The firm’s fifty day moving average is $38.35 and its 200 day moving average is $36.40. SpringWorks Therapeutics has a 52 week low of $28.21 and a 52 week high of $60.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.03. The firm had revenue of $49.10 million for the quarter, compared to analysts’ expectations of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The company’s revenue for the quarter was up 4810.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.27) earnings per share. Equities research analysts expect that SpringWorks Therapeutics will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Daniel Lynch sold 175,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the sale, the director now owns 130,944 shares in the company, valued at approximately $7,131,210.24. The trade was a 57.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Saqib Islam sold 48,000 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,002,502 shares in the company, valued at $53,433,356.60. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 302,750 shares of company stock worth $16,139,410. Company insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in SWTX. FMR LLC boosted its holdings in SpringWorks Therapeutics by 0.3% in the third quarter. FMR LLC now owns 11,140,946 shares of the company’s stock worth $356,956,000 after acquiring an additional 28,555 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of SpringWorks Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock valued at $258,650,000 after acquiring an additional 445,593 shares in the last quarter. Maverick Capital Ltd. raised its position in shares of SpringWorks Therapeutics by 6.8% in the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock worth $89,018,000 after purchasing an additional 177,824 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in SpringWorks Therapeutics by 24.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock worth $86,402,000 after purchasing an additional 465,494 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in SpringWorks Therapeutics by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock valued at $53,526,000 after purchasing an additional 109,189 shares during 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.