SpringWorks Therapeutics (NASDAQ:SWTX) Earns Buy Rating from HC Wainwright

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report released on Monday, Benzinga reports. They currently have a $74.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 61.75% from the company’s current price.

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

SpringWorks Therapeutics Price Performance

SWTX stock opened at $45.75 on Monday. The business has a fifty day moving average price of $47.04 and a 200 day moving average price of $39.09. SpringWorks Therapeutics has a fifty-two week low of $18.00 and a fifty-two week high of $53.92. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -8.90 and a beta of 0.84.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced 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. The business’s quarterly revenue was up 2000.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.18) EPS. On average, equities analysts expect that SpringWorks Therapeutics will post -4.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its stake in SpringWorks Therapeutics by 96.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,612 shares of the company’s stock valued at $37,000 after purchasing an additional 792 shares during the last quarter. Headlands Technologies LLC bought a new stake in SpringWorks Therapeutics in the fourth quarter valued at approximately $74,000. Strs Ohio acquired a new stake in shares of SpringWorks Therapeutics in the fourth quarter valued at approximately $102,000. SG Americas Securities LLC bought a new position in shares of SpringWorks Therapeutics during the 4th quarter worth approximately $157,000. Finally, Exchange Traded Concepts LLC raised its stake in SpringWorks Therapeutics by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,323 shares of the company’s stock valued at $194,000 after acquiring an additional 1,350 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.