SpringWorks Therapeutics (NASDAQ:SWTX) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research report report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $74.00 price objective on the stock.

Other research analysts have also recently issued reports about the stock. Evercore ISI assumed coverage on shares of SpringWorks Therapeutics in a report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday. Finally, Guggenheim dropped their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $70.83.

SpringWorks Therapeutics Stock Performance

SWTX stock opened at $59.28 on Wednesday. SpringWorks Therapeutics has a 1-year low of $28.21 and a 1-year high of $60.00. The business has a fifty day moving average price of $38.35 and a 200-day moving average price of $36.40.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.03. The business had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. SpringWorks Therapeutics’s revenue was up 4810.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.27) EPS. On average, equities analysts predict that SpringWorks Therapeutics will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 48,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the completion of the sale, the chief executive officer now owns 1,002,502 shares of the company’s stock, valued at approximately $53,433,356.60. The trade was a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel Pichl sold 29,750 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.36, for a total value of $1,617,210.00. Following the completion of the transaction, the insider now directly owns 50,762 shares in the company, valued at $2,759,422.32. This trade represents a 36.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 302,750 shares of company stock worth $16,139,410. Company insiders own 7.61% of the company’s stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank lifted its holdings in SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after purchasing an additional 192 shares in the last quarter. AlphaQuest LLC raised 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 valued at $36,000 after purchasing an additional 414 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of SpringWorks Therapeutics during the 4th quarter valued at $45,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 worth $87,000 after buying an additional 474 shares during the period. Finally, KBC Group NV increased its stake in SpringWorks Therapeutics by 59.1% in the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after buying an additional 978 shares in the last quarter.

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.