SpringWorks Therapeutics (NASDAQ:SWTX) Rating Reiterated by HC Wainwright

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at HC Wainwright in a research note issued on Monday, Benzinga reports. They presently have a $74.00 price objective on the stock. HC Wainwright's price objective would indicate a potential upside of 59.76% from the company's previous close.

A number of other equities research analysts have also recently issued reports on SWTX. Guggenheim assumed coverage on SpringWorks Therapeutics in a research report on Monday, February 5th. They set a "buy" rating and a $75.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an "overweight" rating in a research note on Wednesday, March 6th. Wedbush reiterated an "outperform" rating and issued a $75.00 target price (up previously from $70.00) on shares of SpringWorks Therapeutics in a report on Thursday. Finally, Barclays upped their price target on shares of SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, February 29th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, SpringWorks Therapeutics has a consensus rating of "Buy" and an average target price of $68.83.

SpringWorks Therapeutics Stock Up 2.7 %

Shares of SWTX traded up $1.21 during mid-day trading on Monday, hitting $46.32. 611,332 shares of the company's stock were exchanged, compared to its average volume of 1,120,341. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of -9.01 and a beta of 0.84. The firm has a fifty day moving average of $47.16 and a two-hundred day moving average of $38.92. SpringWorks Therapeutics has a twelve month low of $18.00 and a twelve month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last posted its earnings results on Thursday, May 2nd. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.01). The business had revenue of $21.00 million during the quarter, compared to the consensus estimate of $12.07 million. During the same quarter in the prior year, the business posted ($1.18) EPS. SpringWorks Therapeutics's quarterly revenue was up 2000.0% on a year-over-year basis. On average, equities analysts predict that SpringWorks Therapeutics will post -4.75 earnings per share for the current year.

Insider Transactions at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 15,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $50.10, for a total value of $751,500.00. Following the completion of the sale, the insider now owns 45,212 shares in the company, valued at $2,265,121.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 7.61% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in SpringWorks Therapeutics by 0.4% during the third quarter. Vanguard Group Inc. now owns 4,922,462 shares of the company's stock worth $113,807,000 after purchasing an additional 20,651 shares during the period. Mutual of America Capital Management LLC bought a new stake in shares of SpringWorks Therapeutics during the fourth quarter worth approximately $2,344,000. Walleye Capital LLC boosted its stake in SpringWorks Therapeutics by 196.8% in the third quarter. Walleye Capital LLC now owns 144,307 shares of the company's stock valued at $3,336,000 after acquiring an additional 95,694 shares during the last quarter. New York State Common Retirement Fund grew its holdings in SpringWorks Therapeutics by 1.6% during the 4th quarter. New York State Common Retirement Fund now owns 253,741 shares of the company's stock worth $9,262,000 after acquiring an additional 3,987 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of SpringWorks Therapeutics by 16.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 423,764 shares of the company's stock valued at $9,797,000 after acquiring an additional 59,138 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.