SpringWorks Therapeutics’ (SWTX) Neutral Rating Reiterated at Wedbush

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “neutral” rating reaffirmed by investment analysts at Wedbush in a report issued on Monday,RTT News reports. They presently have a $47.00 price objective on the stock, down from their prior price objective of $81.00. Wedbush’s price objective would suggest a potential upside of 1.94% from the company’s previous close.

Several other research firms also recently weighed in on SWTX. Guggenheim lowered their price objective 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. HC Wainwright reissued a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Finally, Evercore ISI boosted their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.40.

SpringWorks Therapeutics Stock Performance

Shares of SpringWorks Therapeutics stock traded up $1.39 during midday trading on Monday, hitting $46.11. 50,190,486 shares of the company traded hands, compared to its average volume of 1,679,980. SpringWorks Therapeutics has a 12 month low of $28.21 and a 12 month high of $62.00. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -13.25 and a beta of 0.79. The firm’s fifty day moving average price is $46.20 and its 200-day moving average price is $40.64.

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

Insider Transactions at SpringWorks Therapeutics

In related news, Director Daniel Lynch sold 175,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.46, for a total value of $9,530,500.00. Following the sale, the director now owns 130,944 shares of the company’s stock, valued at approximately $7,131,210.24. The trade was a 57.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Badreddin Edris sold 30,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the completion of the sale, the chief operating officer now directly owns 189,712 shares in the company, valued at $10,079,398.56. This trade represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 440,766 shares of company stock worth $24,402,956 in the last 90 days. Insiders own 7.83% of the company’s stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

Hedge funds have recently modified their holdings of the stock. Huntington National Bank raised its holdings in SpringWorks Therapeutics by 38.2% during the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after acquiring an additional 192 shares during the period. AlphaQuest LLC increased its holdings in shares of SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after purchasing an additional 414 shares during the period. Venturi Wealth Management LLC bought a new position in shares of SpringWorks Therapeutics in the fourth quarter worth $45,000. State of Wyoming increased its holdings in shares of SpringWorks Therapeutics by 39.5% in the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock worth $55,000 after purchasing an additional 433 shares during the period. Finally, GF Fund Management CO. LTD. bought a new position 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.