SpringWorks Therapeutics (NASDAQ:SWTX) Receives Equal Weight Rating from Barclays

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “equal weight” rating reiterated by equities research analysts at Barclays in a research report issued on Monday,Benzinga reports. They currently have a $47.00 price target on the stock, down from their prior price target of $63.00. Barclays‘s target price would indicate a potential upside of 1.79% from the company’s previous close.

Several other brokerages also recently issued reports on SWTX. Wedbush reissued a “neutral” rating and set a $47.00 price target (down previously from $81.00) on shares of SpringWorks Therapeutics in a report on Monday. Evercore ISI lifted their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Guggenheim cut their price target on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, HC Wainwright reissued a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SpringWorks Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $63.17.

SpringWorks Therapeutics Stock Up 3.3 %

Shares of SWTX stock traded up $1.46 during trading hours on Monday, hitting $46.18. 69,600,629 shares of the company were exchanged, compared to its average volume of 1,744,629. The firm has a fifty day moving average of $46.20 and a 200 day moving average of $40.64. SpringWorks Therapeutics has a 1 year low of $28.21 and a 1 year high of $62.00. The firm has a market cap of $3.46 billion, a PE ratio of -13.27 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The firm had revenue of $61.55 million during the quarter, compared to analysts’ expectations of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. Analysts expect that SpringWorks Therapeutics will post -2.05 earnings per share for the current year.

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, Director Daniel Lynch sold 175,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.46, for a total value of $9,530,500.00. Following the transaction, the director now directly owns 130,944 shares of the company’s stock, valued at $7,131,210.24. This represents a 57.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel Pichl sold 29,750 shares of SpringWorks Therapeutics stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.36, for a total value of $1,617,210.00. Following the completion of the transaction, the insider now directly owns 50,762 shares of the company’s stock, valued at $2,759,422.32. This represents a 36.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 440,766 shares of company stock worth $24,402,956. Insiders own 7.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Huntington National Bank grew its stake in SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after purchasing an additional 192 shares during the period. AlphaQuest LLC lifted its stake in shares of SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after buying an additional 414 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of SpringWorks Therapeutics during the 4th quarter valued at $45,000. State of Wyoming grew its stake in SpringWorks Therapeutics by 39.5% during the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after acquiring an additional 433 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of SpringWorks Therapeutics in the fourth quarter worth $56,000.

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.