SpringWorks Therapeutics (NASDAQ:SWTX) Given “Buy” Rating at HC Wainwright

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report released on Wednesday,Benzinga reports. They currently have a $74.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 26.30% from the stock’s previous close.

Several other equities analysts have also commented on SWTX. Wedbush reaffirmed an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research report on Monday. Evercore ISI initiated coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective for the company. Finally, 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SpringWorks Therapeutics has a consensus rating of “Buy” and an average target price of $70.83.

SpringWorks Therapeutics Stock Performance

SWTX stock opened at $58.59 on Wednesday. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of -15.10 and a beta of 0.81. The firm has a 50-day simple moving average of $38.69 and a two-hundred day simple moving average of $36.56. 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 quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.03. The firm had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. SpringWorks Therapeutics’s revenue was up 4810.0% on a year-over-year basis. During the same period last year, the firm posted ($1.27) EPS. As a group, equities analysts predict that SpringWorks Therapeutics will post -3.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 29,750 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the completion of the transaction, the insider now directly owns 50,762 shares of the company’s stock, valued at approximately $2,759,422.32. This trade represents a 36.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel Lynch sold 175,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 302,750 shares of company stock valued at $16,139,410. 7.61% of the stock is owned by insiders.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SWTX. Creative Planning acquired a new stake in shares of SpringWorks Therapeutics during the 3rd quarter worth approximately $254,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of SpringWorks Therapeutics by 21.4% during the 3rd 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 during the period. China Universal Asset Management Co. Ltd. grew its stake in SpringWorks Therapeutics by 64.1% in the 3rd 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 period. Principal Financial Group Inc. grew its stake in SpringWorks Therapeutics by 102.5% in the 3rd 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 period. Finally, Assetmark Inc. grew its stake in SpringWorks Therapeutics by 13.7% in the 3rd quarter. Assetmark Inc. now owns 46,020 shares of the company’s stock valued at $1,474,000 after acquiring 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.