SpringWorks Therapeutics’ (SWTX) Buy Rating Reaffirmed at HC Wainwright

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

Several other research firms also recently issued reports on SWTX. Evercore ISI initiated coverage on SpringWorks Therapeutics in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective for the company. Wedbush restated an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, February 10th. Finally, Guggenheim cut their price target on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $70.83.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ:SWTX opened at $57.43 on Wednesday. SpringWorks Therapeutics has a 52-week low of $28.21 and a 52-week high of $60.00. The company has a market capitalization of $4.27 billion, a PE ratio of -14.80 and a beta of 0.81. The company has a fifty day moving average of $39.03 and a 200-day moving average of $36.71.

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

Insiders Place Their Bets

In related news, COO Badreddin Edris sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total transaction of $839,400.00. Following the sale, the chief operating officer now owns 209,600 shares in the company, valued at $8,796,912. This represents a 8.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Pichl sold 29,750 shares of the firm’s stock in a transaction that occurred on 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 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 302,750 shares of company stock worth $16,139,410. 7.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Huntington National Bank increased its stake in shares of SpringWorks Therapeutics by 38.2% in the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after acquiring an additional 192 shares in the last quarter. AlphaQuest LLC grew its holdings in SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after purchasing an additional 414 shares during the period. Barclays PLC increased its stake in SpringWorks Therapeutics by 0.3% in the fourth quarter. Barclays PLC now owns 156,123 shares of the company’s stock valued at $5,641,000 after purchasing an additional 447 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after purchasing an additional 474 shares in the last quarter. Finally, Virtus ETF Advisers LLC raised its holdings in shares of SpringWorks Therapeutics by 7.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 9,037 shares of the company’s stock valued at $327,000 after purchasing an additional 622 shares during the period.

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.