Wedbush Reaffirms Outperform Rating for SpringWorks Therapeutics (NASDAQ:SWTX)

Wedbush reiterated their outperform rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research report report published on Monday morning,RTT News reports. They currently have a $77.00 target price on the stock. Wedbush also issued estimates for SpringWorks Therapeutics’ FY2027 earnings at $3.42 EPS.

Other equities research analysts have also issued reports about the company. Evercore ISI began coverage on SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price target on the stock. Guggenheim reduced their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, HC Wainwright lowered their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $70.00.

SpringWorks Therapeutics Stock Up 3.0 %

Shares of SWTX stock opened at $33.48 on Monday. The stock has a fifty day moving average of $37.97 and a 200 day moving average of $36.40. SpringWorks Therapeutics has a 52 week low of $28.21 and a 52 week high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.03. The business had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. SpringWorks Therapeutics’s quarterly revenue was up 4810.0% compared to the same quarter last year. During the same period last year, the business posted ($1.27) earnings per share. Equities analysts anticipate that SpringWorks Therapeutics will post -3.12 EPS for the current year.

Insider Transactions at SpringWorks Therapeutics

In other news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $8,796,912. The trade was a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.61% of the company’s stock.

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors have recently made changes to their positions in the business. FMR LLC increased its holdings in SpringWorks Therapeutics by 0.3% during the third quarter. FMR LLC now owns 11,140,946 shares of the company’s stock valued at $356,956,000 after buying an additional 28,555 shares during the last quarter. Maverick Capital Ltd. increased its stake in shares of SpringWorks Therapeutics by 6.8% in the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock worth $89,018,000 after purchasing an additional 177,824 shares in the last quarter. Geode Capital Management LLC raised its holdings in SpringWorks Therapeutics by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock worth $53,526,000 after purchasing an additional 109,189 shares during the period. Duquesne Family Office LLC purchased a new position in SpringWorks Therapeutics during the second quarter valued at $38,475,000. Finally, Principal Financial Group Inc. grew its holdings in SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after purchasing an additional 464,903 shares during the period.

About SpringWorks Therapeutics

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.