SpringWorks Therapeutics’ (SWTX) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research note issued to investors on Monday,RTT News reports. Wedbush currently has a $77.00 target price on the stock.

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

SpringWorks Therapeutics Stock Performance

NASDAQ:SWTX opened at $54.00 on Monday. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of -13.92 and a beta of 0.81. SpringWorks Therapeutics has a 1 year low of $28.21 and a 1 year high of $60.00. The business has a fifty day moving average of $37.86 and a 200-day moving average of $36.16.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. During the same quarter in the prior year, the firm posted ($1.27) EPS. SpringWorks Therapeutics’s revenue was up 4810.0% compared to the same quarter last year. On average, equities research analysts predict that SpringWorks Therapeutics will post -3.03 EPS for the current year.

Insider Activity

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total transaction of $839,400.00. Following the sale, the chief operating officer now owns 209,600 shares in the company, valued at approximately $8,796,912. The trade was a 8.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.61% of the company’s stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of large investors have recently made changes to their positions in SWTX. FMR LLC lifted its stake in SpringWorks Therapeutics by 0.3% in the 3rd quarter. FMR LLC now owns 11,140,946 shares of the company’s stock worth $356,956,000 after acquiring an additional 28,555 shares in the last quarter. Maverick Capital Ltd. lifted its position in shares of SpringWorks Therapeutics by 6.8% in the third 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 boosted its holdings in shares of SpringWorks Therapeutics by 7.0% during the third 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. Principal Financial Group Inc. grew its position in SpringWorks Therapeutics by 20.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company’s stock valued at $39,882,000 after purchasing an additional 185,413 shares in the last quarter. Finally, Finepoint Capital LP increased its stake in SpringWorks Therapeutics by 2.0% in the 3rd quarter. Finepoint Capital LP now owns 650,852 shares of the company’s stock valued at $20,853,000 after buying an additional 12,500 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.