Guggenheim Has Lowered Expectations for SpringWorks Therapeutics (NASDAQ:SWTX) Stock Price

SpringWorks Therapeutics (NASDAQ:SWTXFree Report) had its price target reduced by Guggenheim from $80.00 to $78.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on SWTX. HC Wainwright lowered their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Evercore ISI assumed coverage on SpringWorks Therapeutics in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, November 18th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SpringWorks Therapeutics presently has a consensus rating of “Buy” and an average price target of $70.00.

View Our Latest Stock Analysis on SWTX

SpringWorks Therapeutics Stock Performance

Shares of SWTX stock opened at $40.49 on Wednesday. SpringWorks Therapeutics has a fifty-two week low of $28.21 and a fifty-two week high of $53.92. The firm has a market capitalization of $3.01 billion, a PE ratio of -10.44 and a beta of 0.82. The stock’s 50-day simple moving average is $37.38 and its 200-day simple moving average is $36.36.

SpringWorks Therapeutics (NASDAQ:SWTXGet Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.03. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The company had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. During the same quarter in the prior year, the company earned ($1.27) EPS. SpringWorks Therapeutics’s quarterly revenue was up 4810.0% on a year-over-year basis. Sell-side analysts forecast that SpringWorks Therapeutics will post -3.12 earnings per share for the current year.

Insider Activity

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the company’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 completion of the transaction, the chief operating officer now directly owns 209,600 shares in the company, valued at approximately $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Duquesne Family Office LLC acquired a new position in SpringWorks Therapeutics in the 2nd quarter valued at $38,475,000. Maverick Capital Ltd. boosted its stake in SpringWorks Therapeutics by 36.3% during the second quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock worth $97,962,000 after buying an additional 691,894 shares during the last quarter. Principal Financial Group Inc. grew its holdings in SpringWorks Therapeutics by 102.5% in the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after buying an additional 464,903 shares in the last quarter. Walleye Capital LLC increased its stake in shares of SpringWorks Therapeutics by 2,439.4% in the 3rd quarter. Walleye Capital LLC now owns 286,093 shares of the company’s stock worth $9,166,000 after acquiring an additional 274,827 shares during the last quarter. Finally, Ally Bridge Group NY LLC acquired a new position in shares of SpringWorks Therapeutics during the 3rd quarter valued at about $7,296,000.

About SpringWorks Therapeutics

(Get Free Report)

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.

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Analyst Recommendations for SpringWorks Therapeutics (NASDAQ:SWTX)

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