HC Wainwright Lowers SpringWorks Therapeutics (NASDAQ:SWTX) Price Target to $74.00

SpringWorks Therapeutics (NASDAQ:SWTX) had its price objective reduced by HC Wainwright from $76.00 to $74.00 in a report released on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for SpringWorks Therapeutics’ Q4 2024 earnings at ($0.59) EPS, FY2024 earnings at ($3.03) EPS, Q1 2025 earnings at ($0.44) EPS, Q2 2025 earnings at ($0.23) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at $0.11 EPS and FY2025 earnings at ($0.65) EPS.

A number of other research analysts have also recently commented on SWTX. Wedbush reaffirmed an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $68.17.

SpringWorks Therapeutics Price Performance

NASDAQ:SWTX opened at $36.45 on Tuesday. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -9.39 and a beta of 0.79. The business has a 50 day simple moving average of $32.70 and a 200-day simple moving average of $37.14. SpringWorks Therapeutics has a 1 year low of $19.61 and a 1 year high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.04. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The business had revenue of $49.10 million for the quarter, compared to analysts’ expectations of $53.28 million. During the same quarter in the previous year, the business posted ($1.27) earnings per share. The business’s revenue was up 4810.0% compared to the same quarter last year. As a group, analysts expect that SpringWorks Therapeutics will post -3.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted 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 worth $53,526,000 after acquiring an additional 109,189 shares during the period. Barclays PLC boosted its position in SpringWorks Therapeutics by 60.4% in the third quarter. Barclays PLC now owns 155,676 shares of the company’s stock valued at $4,987,000 after buying an additional 58,645 shares during the last quarter. Main Management ETF Advisors LLC acquired a new position in SpringWorks Therapeutics in the 3rd quarter worth approximately $746,000. Wellington Management Group LLP raised its position in SpringWorks Therapeutics by 5.6% during the 3rd quarter. Wellington Management Group LLP now owns 34,994 shares of the company’s stock worth $1,121,000 after buying an additional 1,853 shares during the last quarter. Finally, Soros Fund Management LLC lifted its stake in SpringWorks Therapeutics by 45.3% during the 3rd quarter. Soros Fund Management LLC now owns 559,321 shares of the company’s stock valued at $17,921,000 after acquiring an additional 174,321 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.