SpringWorks Therapeutics (NASDAQ:SWTX) Price Target Raised to $65.00 at Evercore ISI

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) had its target price hoisted by equities researchers at Evercore ISI from $60.00 to $65.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Evercore ISI's price objective points to a potential upside of 13.18% from the stock's previous close.

Several other research analysts also recently issued reports on SWTX. Guggenheim cut their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. HC Wainwright reaffirmed a "buy" rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Wednesday. Finally, Wedbush reaffirmed an "outperform" rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday, February 10th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $70.83.

SpringWorks Therapeutics Stock Down 2.0 %

Shares of SpringWorks Therapeutics stock traded down $1.16 during trading on Wednesday, hitting $57.43. 2,778,360 shares of the company were exchanged, compared to its average volume of 1,684,477. SpringWorks Therapeutics has a fifty-two week low of $28.21 and a fifty-two week high of $60.00. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -14.80 and a beta of 0.81. The firm has a 50 day moving average price of $39.35 and a 200 day moving average price of $36.86.

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, topping the consensus estimate 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 firm had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. During the same period in the previous year, the firm posted ($1.27) EPS. The company's quarterly revenue was up 4810.0% compared to the same quarter last year. Analysts predict that SpringWorks Therapeutics will post -3.03 earnings per share for the current year.

Insider Activity

In other news, Director Daniel Lynch sold 175,000 shares of the business's 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 of the company's stock, valued at $7,131,210.24. The trade was a 57.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Badreddin Edris sold 20,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total transaction of $839,400.00. Following the sale, the chief operating officer now directly owns 209,600 shares of the company's stock, valued at $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 302,750 shares of company stock valued at $16,139,410 in the last ninety days. Company insiders own 7.61% of the company's stock.

Hedge Funds Weigh In On SpringWorks Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Boxer Capital Management LLC acquired a new position in shares of SpringWorks Therapeutics during the 4th quarter valued at $123,620,000. Soros Fund Management LLC lifted its holdings in shares of SpringWorks Therapeutics by 7.4% during the 4th quarter. Soros Fund Management LLC now owns 600,470 shares of the company's stock valued at $21,695,000 after acquiring an additional 41,149 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of SpringWorks Therapeutics by 8.8% during the 4th quarter. Northern Trust Corp now owns 655,678 shares of the company's stock valued at $23,690,000 after acquiring an additional 52,908 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of SpringWorks Therapeutics by 42.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 407,683 shares of the company's stock valued at $14,730,000 after acquiring an additional 122,128 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of SpringWorks Therapeutics by 66.7% during the 4th quarter. Quarry LP now owns 10,000 shares of the company's stock valued at $361,000 after acquiring an additional 4,000 shares in the last quarter.

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.