HC Wainwright Reaffirms “Buy” Rating for SpringWorks Therapeutics (NASDAQ:SWTX)

HC Wainwright reissued their buy rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a report released on Monday morning, Benzinga reports. HC Wainwright currently has a $74.00 target price on the stock.

Several other analysts also recently commented on SWTX. JPMorgan Chase & Co. increased their target price on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an overweight rating in a report on Wednesday, March 6th. Wedbush reiterated an outperform rating and issued a $75.00 price objective (up previously from $70.00) on shares of SpringWorks Therapeutics in a research note on Thursday, May 2nd. Guggenheim assumed coverage on SpringWorks Therapeutics in a research note on Monday, February 5th. They issued a buy rating and a $75.00 target price on the stock. Finally, Barclays lifted their price target on SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an overweight rating in a report on Thursday, February 29th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $68.83.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ SWTX opened at $42.26 on Monday. The firm’s 50-day simple moving average is $47.04 and its 200 day simple moving average is $39.09. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -8.22 and a beta of 0.84. SpringWorks Therapeutics has a fifty-two week low of $18.00 and a fifty-two week high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its earnings results on Thursday, May 2nd. The company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.01). The firm had revenue of $21.00 million during the quarter, compared to the consensus estimate of $12.07 million. During the same quarter in the previous year, the company earned ($1.18) EPS. The firm’s quarterly revenue was up 2000.0% on a year-over-year basis. On average, sell-side analysts predict that SpringWorks Therapeutics will post -4.75 EPS for the current year.

Insider Activity at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 15,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $50.10, for a total value of $751,500.00. Following the completion of the sale, the insider now directly owns 45,212 shares of the company’s stock, valued at $2,265,121.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SWTX. SG Americas Securities LLC raised its position in shares of SpringWorks Therapeutics by 8.3% in the first quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock valued at $230,000 after purchasing an additional 358 shares during the period. Teacher Retirement System of Texas grew its stake in SpringWorks Therapeutics by 4.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 9,770 shares of the company’s stock valued at $226,000 after buying an additional 441 shares in the last quarter. Swiss National Bank raised its holdings in SpringWorks Therapeutics by 0.9% during the 3rd quarter. Swiss National Bank now owns 75,600 shares of the company’s stock valued at $1,748,000 after acquiring an additional 700 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in SpringWorks Therapeutics by 96.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,612 shares of the company’s stock valued at $37,000 after acquiring an additional 792 shares during the period. Finally, Amalgamated Bank lifted its position in shares of SpringWorks Therapeutics by 9.1% during the fourth quarter. Amalgamated Bank now owns 9,666 shares of the company’s stock worth $353,000 after acquiring an additional 805 shares in the last quarter.

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.