SpringWorks Therapeutics (NASDAQ:SWTX) Earns Outperform Rating from Wedbush

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at Wedbush in a note issued to investors on Monday, MarketBeat.com reports. They currently have a $77.00 price target on the stock. Wedbush's price objective would indicate a potential upside of 33.59% from the company's current price.

A number of other research firms have also weighed in on SWTX. Guggenheim dropped their price target on shares of 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 lowered their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Finally, Evercore ISI assumed coverage on SpringWorks Therapeutics in a research note on Wednesday, November 20th. They set an "outperform" rating and a $60.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics currently has an average rating of "Buy" and an average price target of $70.83.

SpringWorks Therapeutics Trading Down 1.6 %

NASDAQ:SWTX traded down $0.95 during trading hours on Monday, reaching $57.64. The company had a trading volume of 1,938,223 shares, compared to its average volume of 2,582,469. SpringWorks Therapeutics has a 52 week low of $28.21 and a 52 week high of $60.00. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of -14.95 and a beta of 0.81. The firm's 50 day moving average price is $39.03 and its 200-day moving average price is $36.71.

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

Insider Buying and Selling

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 29,750 shares of the company's stock in a transaction 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 completion of the sale, the insider now directly owns 50,762 shares in the company, valued at approximately $2,759,422.32. This represents a 36.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Badreddin Edris sold 20,000 shares of the firm's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total value of $839,400.00. Following the transaction, the chief operating officer now owns 209,600 shares in the company, valued at approximately $8,796,912. This represents a 8.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 302,750 shares of company stock valued at $16,139,410 in the last 90 days. Company insiders own 7.61% of the company's stock.

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors have recently bought and sold shares of the business. FMR LLC boosted its position in 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 in the last quarter. Vanguard Group Inc. boosted its position in SpringWorks Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock valued at $258,650,000 after purchasing an additional 445,593 shares in the last quarter. Maverick Capital Ltd. grew its stake in SpringWorks Therapeutics by 6.8% in the third quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company's stock valued at $89,018,000 after purchasing an additional 177,824 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in SpringWorks Therapeutics by 24.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company's stock worth $86,402,000 after purchasing an additional 465,494 shares in the last quarter. Finally, Capital International Investors lifted its position in shares of SpringWorks Therapeutics by 92.7% during the fourth quarter. Capital International Investors now owns 2,361,746 shares of the company's stock valued at $85,330,000 after buying an additional 1,136,079 shares during 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.