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

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $74.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 26.25% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Evercore ISI increased their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Guggenheim reduced their target price 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. Finally, Wedbush reiterated an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a report on Thursday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $71.50.

SpringWorks Therapeutics Stock Down 2.2 %

Shares of SpringWorks Therapeutics stock traded down $1.32 during mid-day trading on Friday, hitting $58.62. The stock had a trading volume of 1,378,996 shares, compared to its average volume of 2,681,787. The firm has a 50-day moving average of $40.70 and a two-hundred day moving average of $37.47. SpringWorks Therapeutics has a 12-month low of $28.21 and a 12-month high of $62.00. The firm has a market cap of $4.36 billion, a P/E ratio of -15.11 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The business had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. Sell-side analysts expect that SpringWorks Therapeutics will post -3.17 earnings per share for the current year.

Insider Activity

In related news, CEO Saqib Islam sold 10,672 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $59.92, for a total value 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. This trade represents a 0.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel Lynch sold 175,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the completion of the transaction, the director now directly owns 130,944 shares in the company, valued at $7,131,210.24. This trade represents a 57.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,822 shares of company stock worth $16,802,876. 7.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. purchased a new position in SpringWorks Therapeutics during the 4th quarter worth $56,000. Palisades Investment Partners LLC grew its position in SpringWorks Therapeutics by 9.9% during the 4th quarter. Palisades Investment Partners LLC now owns 134,445 shares of the company’s stock worth $4,857,000 after purchasing an additional 12,154 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in SpringWorks Therapeutics by 19.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,052 shares of the company’s stock worth $4,301,000 after purchasing an additional 19,315 shares during the last quarter. Woodline Partners LP grew its position in SpringWorks Therapeutics by 7.9% during the 4th quarter. Woodline Partners LP now owns 1,490,136 shares of the company’s stock worth $53,839,000 after purchasing an additional 108,512 shares during the last quarter. Finally, Zimmer Partners LP purchased a new position in SpringWorks Therapeutics during the 4th quarter worth $5,141,000.

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.