SpringWorks Therapeutics (NASDAQ:SWTX) Earns “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research report released on Thursday, RTT News reports. Wedbush currently has a $75.00 price objective on the stock, up from their previous price objective of $70.00.

SWTX has been the subject of several other research reports. Guggenheim began coverage on shares of SpringWorks Therapeutics in a report on Monday, February 5th. They issued a buy rating and a $75.00 target price for the company. Barclays raised their price target on shares of SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an overweight rating in a research note on Thursday, February 29th. HC Wainwright raised their price target on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an overweight rating in a research note on Wednesday, March 6th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $68.83.

SpringWorks Therapeutics Trading Down 0.5 %

SpringWorks Therapeutics stock opened at $44.89 on Thursday. The firm has a 50-day moving average price of $47.21 and a 200-day moving average price of $38.75. The firm has a market capitalization of $3.33 billion, a PE ratio of -8.78 and a beta of 0.84. SpringWorks Therapeutics has a 12-month low of $18.00 and a 12-month high of $53.92.

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

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $50.10, for a total transaction of $751,500.00. Following the transaction, the insider now owns 45,212 shares of the company’s stock, valued at approximately $2,265,121.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

A number of institutional investors have recently modified their holdings of SWTX. Point72 Asset Management L.P. boosted its holdings in shares of SpringWorks Therapeutics by 310.7% in the 4th quarter. Point72 Asset Management L.P. now owns 2,162,176 shares of the company’s stock valued at $78,919,000 after buying an additional 1,635,722 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of SpringWorks Therapeutics by 22.6% in the 4th quarter. Vanguard Group Inc. now owns 6,036,542 shares of the company’s stock valued at $220,334,000 after buying an additional 1,114,080 shares in the last quarter. RTW Investments LP bought a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at about $22,812,000. Perceptive Advisors LLC boosted its stake in SpringWorks Therapeutics by 28.7% in the 4th quarter. Perceptive Advisors LLC now owns 1,957,246 shares of the company’s stock worth $71,439,000 after purchasing an additional 436,830 shares in the last quarter. Finally, Norges Bank acquired a new stake in SpringWorks Therapeutics in the 4th quarter worth approximately $12,331,000.

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.