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

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “buy” rating reissued by HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $74.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 34.23% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Wedbush restated an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a report on Monday. Evercore ISI started coverage on shares of SpringWorks Therapeutics in a research note on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price objective for the company. Finally, Guggenheim dropped their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics presently has an average rating of “Buy” and an average target price of $70.00.

SpringWorks Therapeutics Stock Up 2.1 %

Shares of NASDAQ:SWTX opened at $55.13 on Wednesday. The business has a fifty day simple moving average of $38.10 and a 200-day simple moving average of $36.28. SpringWorks Therapeutics has a 52 week low of $28.21 and a 52 week high of $60.00. The company has a market cap of $4.10 billion, a P/E ratio of -14.21 and a beta of 0.81.

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

Insider Buying and Selling at SpringWorks Therapeutics

In other news, COO Badreddin Edris sold 20,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the sale, the chief operating officer now owns 209,600 shares in the company, valued at approximately $8,796,912. This trade represents a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AlphaQuest LLC raised its stake in shares of 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. Venturi Wealth Management LLC acquired a new stake in SpringWorks Therapeutics during the 4th quarter valued at $45,000. Mirae Asset Global Investments Co. Ltd. increased its stake in SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after buying an additional 474 shares during the period. KBC Group NV lifted its holdings in SpringWorks Therapeutics by 59.1% in the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after buying an additional 978 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in SpringWorks Therapeutics in the 3rd quarter worth $147,000.

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.