SpringWorks Therapeutics (NASDAQ:SWTX) Given Outperform Rating at Wedbush

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a note issued to investors on Monday,RTT News reports. They currently have a $77.00 target price on the stock. Wedbush’s price objective indicates a potential upside of 39.67% from the company’s previous close.

SWTX has been the topic of a number of other reports. HC Wainwright dropped their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Guggenheim lowered their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report 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 analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics has an average rating of “Buy” and an average price target of $70.00.

SpringWorks Therapeutics Trading Up 2.1 %

SpringWorks Therapeutics stock opened at $55.13 on Monday. The firm has a market cap of $4.10 billion, a PE ratio of -14.21 and a beta of 0.81. The stock’s 50 day simple moving average is $38.10 and its two-hundred day simple moving average is $36.28. SpringWorks Therapeutics has a 12 month low of $28.21 and a 12 month high of $60.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.03. The company had revenue of $49.10 million for 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%. The firm’s revenue was up 4810.0% on a year-over-year basis. During the same quarter last year, the business earned ($1.27) earnings per share. On average, equities research analysts forecast that SpringWorks Therapeutics will post -3.03 EPS for the current year.

Insiders Place Their Bets

In other SpringWorks Therapeutics 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 value of $839,400.00. Following the completion of the sale, the chief operating officer now directly owns 209,600 shares of the company’s stock, valued at $8,796,912. This trade represents a 8.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.61% of the company’s stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of hedge funds have recently modified their holdings of SWTX. AlphaQuest LLC increased its position in shares of SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after purchasing an additional 414 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in SpringWorks Therapeutics during the fourth quarter worth about $45,000. KBC Group NV increased its position in shares of SpringWorks Therapeutics by 59.1% during the fourth quarter. KBC Group NV now owns 2,634 shares of the company’s stock valued at $95,000 after acquiring an additional 978 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of SpringWorks Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after acquiring an additional 474 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of SpringWorks Therapeutics by 56.0% in the 4th quarter. US Bancorp DE now owns 4,336 shares of the company’s stock worth $157,000 after acquiring an additional 1,556 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.