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

SpringWorks Therapeutics (NASDAQ:SWTX) had its price target decreased by research analysts at HC Wainwright from $76.00 to $74.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 113.20% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Wedbush reaffirmed an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a report on Thursday, November 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $68.17.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ SWTX opened at $34.71 on Tuesday. The firm has a market cap of $2.58 billion, a PE ratio of -8.95 and a beta of 0.79. The firm has a fifty day moving average of $32.95 and a 200 day moving average of $37.23. SpringWorks Therapeutics has a one year low of $19.61 and a one year high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.04. The company had revenue of $49.10 million during 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 47.16%. The firm’s revenue was up 4810.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.27) EPS. On average, equities analysts predict that SpringWorks Therapeutics will post -3.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Finepoint Capital LP boosted its position in shares of SpringWorks Therapeutics by 2.0% during the 3rd quarter. Finepoint Capital LP now owns 650,852 shares of the company’s stock valued at $20,853,000 after acquiring an additional 12,500 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of SpringWorks Therapeutics during the 3rd quarter valued at about $147,000. FMR LLC boosted its position in shares of SpringWorks Therapeutics by 0.3% during the 3rd quarter. FMR LLC now owns 11,140,946 shares of the company’s stock valued at $356,956,000 after acquiring an additional 28,555 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of SpringWorks Therapeutics by 131.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 285,555 shares of the company’s stock valued at $9,149,000 after acquiring an additional 162,137 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of SpringWorks Therapeutics during the 3rd quarter valued at about $439,000.

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.