SpringWorks Therapeutics (NASDAQ:SWTX) Stock Rating Reaffirmed by HC Wainwright

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They currently have a $74.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 61.75% from the company’s previous close.

Several other analysts also recently commented on SWTX. Wedbush reiterated an “outperform” rating and issued a $75.00 price target (up previously from $70.00) on shares of SpringWorks Therapeutics in a research report on Thursday, May 2nd. Guggenheim began coverage on shares of SpringWorks Therapeutics in a report on Monday, February 5th. They issued a “buy” rating and a $75.00 target price for the company. JPMorgan Chase & Co. raised their price target on SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, Barclays boosted their price target on SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $68.83.

SpringWorks Therapeutics Stock Performance

SWTX opened at $45.75 on Monday. SpringWorks Therapeutics has a one year low of $18.00 and a one year high of $53.92. The stock has a market capitalization of $3.39 billion, a P/E ratio of -8.90 and a beta of 0.84. The business’s 50-day simple moving average is $47.04 and its 200-day simple moving average is $39.09.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly 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 company had revenue of $21.00 million during the quarter, compared to analysts’ expectations of $12.07 million. During the same quarter in the previous year, the company earned ($1.18) EPS. The firm’s revenue was up 2000.0% compared to the same quarter last year. On average, equities research analysts forecast that SpringWorks Therapeutics will post -4.75 EPS for the current fiscal year.

Insider Buying and Selling at SpringWorks Therapeutics

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

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of SWTX. China Universal Asset Management Co. Ltd. raised its position in shares of SpringWorks Therapeutics by 96.6% during the third 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 during the period. Headlands Technologies LLC purchased a new position in SpringWorks Therapeutics in the 4th quarter worth about $74,000. Strs Ohio acquired a new stake in SpringWorks Therapeutics during the 4th quarter worth about $102,000. SG Americas Securities LLC purchased a new stake in SpringWorks Therapeutics during the fourth quarter valued at about $157,000. Finally, Exchange Traded Concepts LLC lifted its stake in SpringWorks Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,323 shares of the company’s stock valued at $194,000 after buying an additional 1,350 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.