SpringWorks Therapeutics’ (SWTX) Neutral Rating Reiterated at Guggenheim

Guggenheim reissued their neutral rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research report report published on Monday,Benzinga reports. They currently have a $47.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. HC Wainwright restated a “neutral” rating and set a $47.00 price objective (down from $74.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, April 30th. Cowen cut SpringWorks Therapeutics to a “hold” rating in a report on Tuesday, April 29th. Wedbush reaffirmed a “neutral” rating and set a $47.00 target price (down from $81.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. Evercore ISI lowered shares of SpringWorks Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Finally, Barclays restated an “equal weight” rating and issued a $47.00 price target (down from $63.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $52.57.

SpringWorks Therapeutics Price Performance

Shares of SpringWorks Therapeutics stock opened at $46.22 on Monday. The stock has a market cap of $3.47 billion, a PE ratio of -13.28 and a beta of 0.77. The business has a fifty day simple moving average of $44.10 and a 200 day simple moving average of $41.94. SpringWorks Therapeutics has a 12 month low of $28.21 and a 12 month high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Friday, May 9th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.30). The firm had revenue of $49.09 million for the quarter, compared to the consensus estimate of $64.19 million. SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. Analysts expect that SpringWorks Therapeutics will post -2.05 EPS for the current fiscal year.

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $54.23, for a total transaction of $1,084,600.00. Following the completion of the sale, the chief operating officer now directly owns 169,712 shares in the company, valued at approximately $9,203,481.76. This trade represents a 10.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Saqib Islam sold 29,328 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $60.30, for a total transaction of $1,768,478.40. Following the completion of the sale, the chief executive officer now owns 1,034,625 shares in the company, valued at $62,387,887.50. This represents a 2.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,016 shares of company stock valued at $9,102,946 in the last quarter. Company insiders own 7.83% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SWTX. Barclays PLC increased its holdings in shares of SpringWorks Therapeutics by 60.4% in the 3rd quarter. Barclays PLC now owns 155,676 shares of the company’s stock worth $4,987,000 after buying an additional 58,645 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of 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 acquiring an additional 464,903 shares during the period. Park Avenue Securities LLC purchased a new stake in shares of SpringWorks Therapeutics during the fourth quarter valued at about $203,000. AMI Asset Management Corp purchased a new position in shares of SpringWorks Therapeutics in the 4th quarter worth approximately $1,438,000. Finally, SG Americas Securities LLC purchased a new position in shares of SpringWorks Therapeutics in the 4th quarter worth approximately $210,000.

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.