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

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $74.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 26.94% from the company’s previous close.

Several other equities analysts have also recently commented on the company. Guggenheim reduced their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Evercore ISI increased their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Wedbush reiterated an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research note on Thursday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $71.50.

SpringWorks Therapeutics Stock Down 2.7 %

Shares of NASDAQ:SWTX opened at $58.29 on Friday. SpringWorks Therapeutics has a 52-week low of $28.21 and a 52-week high of $62.00. The company has a 50 day moving average of $41.10 and a two-hundred day moving average of $37.67. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of -16.75 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The firm had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. On average, equities analysts anticipate that SpringWorks Therapeutics will post -2.05 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Badreddin Edris sold 20,000 shares of the firm’s 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 $8,796,912. This trade represents a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Saqib Islam sold 48,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $53.30, for a total value 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. Insiders have sold 313,822 shares of company stock worth $16,802,876 over the last ninety days. 7.61% of the stock is owned by insiders.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position 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 buying an additional 28,555 shares during the period. Vanguard Group Inc. increased its position in SpringWorks Therapeutics by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock worth $258,650,000 after buying an additional 445,593 shares during the period. Boxer Capital Management LLC acquired a new stake in SpringWorks Therapeutics in the fourth quarter worth $123,620,000. Maverick Capital Ltd. increased its position in SpringWorks Therapeutics by 6.8% in the third quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock worth $89,018,000 after buying an additional 177,824 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in shares of SpringWorks Therapeutics by 24.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock valued at $86,402,000 after purchasing an additional 465,494 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.