SpringWorks Therapeutics (NASDAQ:SWTX) Given Buy Rating at HC Wainwright

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They currently have a $74.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 64.04% from the stock’s previous close.

Other analysts also recently issued reports about the company. Wedbush reaffirmed an “outperform” rating and set a $75.00 price target (up from $70.00) on shares of SpringWorks Therapeutics in a research report on Thursday. JPMorgan Chase & Co. increased their price target on SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Barclays lifted their price target on shares of SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Guggenheim started 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. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $68.83.

SpringWorks Therapeutics Trading Up 4.1 %

NASDAQ:SWTX opened at $45.11 on Monday. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -8.78 and a beta of 0.84. The firm has a fifty day simple moving average of $47.21 and a two-hundred day simple moving average of $38.75. SpringWorks Therapeutics has a 12 month low of $18.00 and a 12 month high of $53.92.

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

Insider Transactions at SpringWorks Therapeutics

In other news, insider Daniel Pichl sold 15,000 shares of the company’s 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 transaction, the insider now owns 45,212 shares of the company’s stock, valued at $2,265,121.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in SpringWorks Therapeutics by 22.6% in the fourth quarter. Vanguard Group Inc. now owns 6,036,542 shares of the company’s stock worth $220,334,000 after acquiring an additional 1,114,080 shares in the last quarter. Point72 Asset Management L.P. grew its position in SpringWorks Therapeutics by 310.7% in the fourth quarter. Point72 Asset Management L.P. now owns 2,162,176 shares of the company’s stock worth $78,919,000 after acquiring an additional 1,635,722 shares in the last quarter. Perceptive Advisors LLC grew its position in SpringWorks Therapeutics by 28.7% in the fourth quarter. Perceptive Advisors LLC now owns 1,957,246 shares of the company’s stock worth $71,439,000 after acquiring an additional 436,830 shares in the last quarter. Fiera Capital Corp grew its position in SpringWorks Therapeutics by 2.9% in the third quarter. Fiera Capital Corp now owns 892,934 shares of the company’s stock worth $20,645,000 after acquiring an additional 25,510 shares in the last quarter. Finally, RTW Investments LP purchased a new position in SpringWorks Therapeutics in the fourth quarter worth $22,812,000.

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.