HC Wainwright Issues Pessimistic Forecast for SpringWorks Therapeutics (NASDAQ:SWTX) Stock Price

SpringWorks Therapeutics (NASDAQ:SWTX) had its target price dropped by investment analysts at HC Wainwright from $76.00 to $74.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 113.20% from the company’s previous close.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Wedbush reiterated an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Thursday, November 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $68.17.

SpringWorks Therapeutics Stock Up 4.9 %

Shares of SpringWorks Therapeutics stock opened at $34.71 on Tuesday. The firm’s 50 day moving average price is $32.95 and its 200-day moving average price is $37.23. SpringWorks Therapeutics has a 52-week low of $19.61 and a 52-week high of $53.92. The company has a market cap of $2.58 billion, a P/E ratio of -8.95 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.04. The company had revenue of $49.10 million during the quarter, compared to analysts’ expectations of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 47.16%. SpringWorks Therapeutics’s revenue for the quarter was up 4810.0% on a year-over-year basis. During the same period last year, the business earned ($1.27) EPS. As a group, equities research analysts forecast that SpringWorks Therapeutics will post -3.36 EPS for the current fiscal year.

Institutional Trading of SpringWorks Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of SWTX. SG Americas Securities LLC lifted its stake in SpringWorks Therapeutics by 8.3% during the 1st quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock valued at $230,000 after acquiring an additional 358 shares during the period. Sei Investments Co. lifted its stake in SpringWorks Therapeutics by 79.5% during the 1st quarter. Sei Investments Co. now owns 48,662 shares of the company’s stock valued at $2,395,000 after acquiring an additional 21,558 shares during the period. Russell Investments Group Ltd. lifted its stake in SpringWorks Therapeutics by 49.0% during the 1st quarter. Russell Investments Group Ltd. now owns 170,047 shares of the company’s stock valued at $8,370,000 after acquiring an additional 55,893 shares during the period. ProShare Advisors LLC lifted its stake in shares of SpringWorks Therapeutics by 15.7% in the 1st quarter. ProShare Advisors LLC now owns 17,473 shares of the company’s stock valued at $860,000 after purchasing an additional 2,368 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in shares of SpringWorks Therapeutics in the 1st quarter valued at $114,083,000.

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.