SpringWorks Therapeutics’ (SWTX) Outperform Rating Reiterated at Wedbush

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a note issued to investors on Thursday, RTT News reports. They presently have a $75.00 target price on the stock, up from their previous target price of $70.00. Wedbush’s target price indicates a potential upside of 73.01% from the stock’s previous close.

SWTX has been the topic of a number of other research reports. Guggenheim began coverage on SpringWorks Therapeutics in a research report on Monday, February 5th. They set a “buy” rating and a $75.00 price target on the stock. Barclays boosted their target price on SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. HC Wainwright increased their price target on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $68.83.

SpringWorks Therapeutics Stock Down 7.5 %

SpringWorks Therapeutics stock traded down $3.49 during trading on Thursday, hitting $43.35. The stock had a trading volume of 3,515,365 shares, compared to its average volume of 1,121,796. The stock’s 50 day moving average is $47.40 and its two-hundred day moving average is $38.36. SpringWorks Therapeutics has a 1 year low of $18.00 and a 1 year high of $53.92. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of -8.43 and a beta of 0.84.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($1.44) earnings per share for the quarter, missing the consensus estimate of ($1.24) by ($0.20). The business had revenue of $5.45 million during the quarter, compared to analysts’ expectations of $1.26 million. During the same quarter in the prior year, the firm posted ($1.19) earnings per share. As a group, equities research analysts anticipate that SpringWorks Therapeutics will post -4.69 EPS for the current fiscal year.

Insider Activity at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 15,000 shares of SpringWorks Therapeutics stock in a transaction 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 owns 45,212 shares in the company, valued at $2,265,121.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its position 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. Headlands Technologies LLC bought a new stake in SpringWorks Therapeutics in the fourth quarter worth $74,000. Strs Ohio purchased a new stake in shares of SpringWorks Therapeutics in the fourth quarter worth $102,000. SG Americas Securities LLC bought a new position in shares of SpringWorks Therapeutics during the fourth quarter valued at $157,000. Finally, Exchange Traded Concepts LLC raised its position in shares of SpringWorks Therapeutics by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,323 shares of the company’s stock worth $194,000 after purchasing an additional 1,350 shares during the last quarter.

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.