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

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $74.00 target price on the stock. HC Wainwright's price objective would suggest a potential upside of 28.85% from the stock's current price.

Several other research firms have also issued reports on SWTX. 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. Evercore ISI initiated coverage on shares of SpringWorks Therapeutics in a report on Wednesday, November 20th. They issued an "outperform" rating and a $60.00 price target on the stock. Finally, Wedbush reaffirmed an "outperform" rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday, February 10th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SpringWorks Therapeutics has a consensus rating of "Buy" and a consensus price target of $70.83.

SpringWorks Therapeutics Stock Down 2.0 %

SWTX stock traded down $1.16 during trading on Wednesday, hitting $57.43. 2,778,360 shares of the company's stock traded hands, compared to its average volume of 1,684,477. The firm has a market capitalization of $4.27 billion, a P/E ratio of -14.80 and a beta of 0.81. The business has a fifty day simple moving average of $39.35 and a two-hundred day simple moving average of $36.86. SpringWorks Therapeutics has a 1 year low of $28.21 and a 1 year high of $60.00.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.03. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The company had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. During the same period last year, the company posted ($1.27) earnings per share. SpringWorks Therapeutics's revenue was up 4810.0% compared to the same quarter last year. On average, equities research analysts predict that SpringWorks Therapeutics will post -3.03 EPS for the current fiscal year.

Insider Transactions at SpringWorks Therapeutics

In other news, Director Daniel Lynch sold 175,000 shares of SpringWorks Therapeutics 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 sale, the director now directly owns 130,944 shares in the company, valued at approximately $7,131,210.24. The trade was a 57.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction on 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 of the company's stock, valued at $8,796,912. The trade was a 8.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 302,750 shares of company stock worth $16,139,410. Company insiders own 7.61% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Huntington National Bank lifted its position 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 during the period. AlphaQuest LLC lifted its position in SpringWorks Therapeutics by 70.2% during the fourth 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. Barclays PLC lifted its position in SpringWorks Therapeutics by 0.3% during 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 during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in SpringWorks Therapeutics by 21.4% during 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 during the period. Finally, Virtus ETF Advisers LLC lifted its position in 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.