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

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

Several other research firms have also recently issued reports on SWTX. Wedbush restated an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research note on Thursday. Guggenheim cut their target price 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. Finally, Evercore ISI increased their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $71.50.

SpringWorks Therapeutics Trading Down 2.7 %

NASDAQ:SWTX opened at $58.29 on Friday. The company’s 50 day moving average price is $41.10 and its 200-day moving average price is $37.64. SpringWorks Therapeutics has a 52 week low of $28.21 and a 52 week high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The business had revenue of $61.55 million during the quarter, compared to the consensus estimate of $60.53 million. SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. Sell-side analysts expect that SpringWorks Therapeutics will post -2.05 EPS for the current year.

Insider Activity

In other news, CEO Saqib Islam sold 10,672 shares of SpringWorks Therapeutics stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $59.92, for a total transaction of $639,466.24. Following the transaction, the chief executive officer now directly owns 1,063,953 shares of the company’s stock, valued at $63,752,063.76. The trade was a 0.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Pichl sold 29,750 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the completion of the sale, the insider now directly owns 50,762 shares of the company’s stock, valued at $2,759,422.32. This represents a 36.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 313,822 shares of company stock valued at $16,802,876 in the last 90 days. Company insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Alpha DNA Investment Management LLC purchased a new stake in SpringWorks Therapeutics in the 3rd quarter worth $411,000. Ally Bridge Group NY LLC purchased a new position in shares of SpringWorks Therapeutics in the third quarter valued at about $7,296,000. AMI Asset Management Corp bought a new position in shares of SpringWorks Therapeutics in the fourth quarter worth about $1,438,000. Los Angeles Capital Management LLC grew its position in shares of SpringWorks Therapeutics by 238.3% during the third quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock worth $1,513,000 after purchasing an additional 33,255 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in SpringWorks Therapeutics by 13.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 602,227 shares of the company’s stock valued at $19,295,000 after purchasing an additional 73,613 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.