SpringWorks Therapeutics (NASDAQ:SWTX) Receives Neutral Rating from HC Wainwright

HC Wainwright restated their neutral rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research report released on Wednesday morning, Marketbeat reports. The firm currently has a $47.00 target price on the stock, down from their prior target price of $74.00.

A number of other research analysts have also recently weighed in on the stock. TD Cowen restated a “hold” rating and issued a $47.00 price objective (down previously from $66.00) on shares of SpringWorks Therapeutics in a report on Tuesday. Cowen cut SpringWorks Therapeutics to a “hold” rating in a research note on Tuesday. Wedbush reissued a “neutral” rating and set a $47.00 target price (down from $81.00) on shares of SpringWorks Therapeutics in a research note on Monday. Evercore ISI lowered SpringWorks Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Guggenheim downgraded SpringWorks Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $77.00 to $47.00 in a research report on Monday. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, SpringWorks Therapeutics has an average rating of “Hold” and a consensus price target of $52.57.

SpringWorks Therapeutics Stock Up 0.1 %

SWTX opened at $46.30 on Wednesday. SpringWorks Therapeutics has a 52 week low of $28.21 and a 52 week high of $62.00. The business has a fifty day simple moving average of $45.49 and a 200-day simple moving average of $40.82. The firm has a market cap of $3.47 billion, a P/E ratio of -13.30 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The firm had revenue of $61.55 million for 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%. Sell-side analysts expect that SpringWorks Therapeutics will post -2.05 earnings per share for the current year.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 49,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $54.24, for a total transaction of $2,657,760.00. Following the sale, the chief executive officer now owns 954,869 shares of the company’s stock, valued at approximately $51,792,094.56. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Badreddin Edris sold 30,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the completion of the transaction, the chief operating officer now owns 189,712 shares of the company’s stock, valued at approximately $10,079,398.56. The trade was a 13.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 440,766 shares of company stock valued at $24,402,956 in the last ninety days. Insiders own 7.83% of the company’s stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of SpringWorks Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock worth $258,650,000 after purchasing an additional 445,593 shares during the last quarter. Boxer Capital Management LLC acquired a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at about $123,620,000. Pictet Asset Management Holding SA grew its stake in SpringWorks Therapeutics by 24.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock worth $86,402,000 after buying an additional 465,494 shares during the last quarter. Capital International Investors increased its position in SpringWorks Therapeutics by 92.7% during the fourth quarter. Capital International Investors now owns 2,361,746 shares of the company’s stock worth $85,330,000 after buying an additional 1,136,079 shares during the period. Finally, ArrowMark Colorado Holdings LLC lifted its stake in SpringWorks Therapeutics by 0.5% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,499,134 shares of the company’s stock valued at $54,164,000 after buying an additional 7,072 shares during the last quarter.

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.