HC Wainwright Reaffirms Buy Rating for SpringWorks Therapeutics (NASDAQ:SWTX)

HC Wainwright reissued their buy rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $74.00 price target on the stock.

A number of other analysts have also recently weighed in on SWTX. JPMorgan Chase & Co. boosted their price target on SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an overweight rating in a research report on Wednesday, March 6th. Guggenheim initiated coverage on SpringWorks Therapeutics in a research report on Monday, February 5th. They set a buy rating and a $75.00 target price for the company. Barclays increased their price target on SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an overweight rating in a report on Thursday, February 29th. Finally, Wedbush restated an outperform rating and issued a $75.00 price objective (up from $70.00) on shares of SpringWorks Therapeutics in a research note on Thursday, May 2nd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $68.83.

SpringWorks Therapeutics Trading Down 7.6 %

NASDAQ:SWTX opened at $42.26 on Monday. SpringWorks Therapeutics has a 1-year low of $18.00 and a 1-year high of $53.92. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -8.22 and a beta of 0.84. The business’s fifty day moving average price is $47.04 and its 200 day moving average price is $39.09.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Thursday, May 2nd. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.01). The business had revenue of $21.00 million for the quarter, compared to the consensus estimate of $12.07 million. During the same period in the prior year, the business earned ($1.18) earnings per share. The firm’s revenue for the quarter was up 2000.0% on a year-over-year basis. Equities analysts forecast that SpringWorks Therapeutics will post -4.75 earnings per share for the current year.

Insider Transactions at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 15,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $50.10, for a total value of $751,500.00. Following the completion of the transaction, the insider now owns 45,212 shares of the company’s stock, valued at $2,265,121.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.61% of the stock is owned by insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its position in SpringWorks Therapeutics by 8.3% in the first quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock valued at $230,000 after acquiring an additional 358 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of SpringWorks Therapeutics by 4.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 9,770 shares of the company’s stock valued at $226,000 after purchasing an additional 441 shares in the last quarter. Swiss National Bank grew its holdings in shares of SpringWorks Therapeutics by 0.9% in the 3rd quarter. Swiss National Bank now owns 75,600 shares of the company’s stock worth $1,748,000 after purchasing an additional 700 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of SpringWorks Therapeutics by 96.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,612 shares of the company’s stock worth $37,000 after purchasing an additional 792 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in SpringWorks Therapeutics by 9.1% during the 4th quarter. Amalgamated Bank now owns 9,666 shares of the company’s stock valued at $353,000 after purchasing an additional 805 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.