SpringWorks Therapeutics’ (SWTX) “Outperform” Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a report published on Monday morning, MarketBeat Ratings reports. Wedbush currently has a $77.00 price target on the stock.

SWTX has been the subject of several other reports. Guggenheim decreased their target price on 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 assumed coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 target price on the stock. Finally, HC Wainwright reduced their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $70.83.

SpringWorks Therapeutics Price Performance

Shares of SWTX stock opened at $59.28 on Monday. The stock has a market cap of $4.41 billion, a P/E ratio of -15.28 and a beta of 0.81. The stock has a fifty day moving average price of $38.35 and a 200 day moving average price of $36.40. SpringWorks Therapeutics has a one year low of $28.21 and a one year high of $60.00.

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

Insider Transactions at SpringWorks Therapeutics

In related news, Director Daniel Lynch sold 175,000 shares of the 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 transaction, the director now directly owns 130,944 shares of the company’s stock, valued at $7,131,210.24. This represents a 57.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Badreddin Edris sold 20,000 shares of the stock in a transaction on 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 directly owns 209,600 shares in the company, valued at approximately $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 302,750 shares of company stock valued at $16,139,410. Company insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Creative Planning purchased a new stake in shares of SpringWorks Therapeutics in the third quarter valued at about $254,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of SpringWorks Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after purchasing an additional 474 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in SpringWorks Therapeutics by 64.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 14,285 shares of the company’s stock valued at $458,000 after acquiring an additional 5,582 shares during the last quarter. Principal Financial Group Inc. grew its position in SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after acquiring an additional 464,903 shares during the last quarter. Finally, Assetmark Inc. raised its position in SpringWorks Therapeutics by 13.7% in the 3rd quarter. Assetmark Inc. now owns 46,020 shares of the company’s stock worth $1,474,000 after purchasing an additional 5,546 shares during the period.

SpringWorks Therapeutics Company Profile

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.