Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) saw strong trading volume on Thursday . 759,786 shares traded hands during mid-day trading, a decline of 30% from the previous session's volume of 1,085,049 shares.The stock last traded at $42.19 and had previously closed at $46.84.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Barclays raised their price objective on SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, February 29th. 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. HC Wainwright increased their target price on SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. increased their target price on SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 6th. Finally, Wedbush reiterated an "outperform" rating and set a $75.00 target price (up previously from $70.00) on shares of SpringWorks Therapeutics in a research report on Thursday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, SpringWorks Therapeutics presently has a consensus rating of "Buy" and an average target price of $68.83.
Check Out Our Latest Stock Report on SpringWorks Therapeutics
SpringWorks Therapeutics Stock Performance
The firm has a market cap of $3.20 billion, a PE ratio of -8.43 and a beta of 0.84. The firm has a fifty day simple moving average of $47.29 and a two-hundred day simple moving average of $38.39.
SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($1.44) earnings per share for the quarter, missing the consensus estimate of ($1.24) by ($0.20). The business had revenue of $5.45 million during the quarter, compared to analyst estimates of $1.26 million. During the same period in the previous year, the company earned ($1.19) EPS. Equities analysts forecast that SpringWorks Therapeutics, Inc. will post -4.69 EPS for the current fiscal year.
Insider Buying and Selling at SpringWorks Therapeutics
In other news, insider Daniel Pichl sold 15,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $50.10, for a total value of $751,500.00. Following the completion of the transaction, the insider now owns 45,212 shares in the company, valued at approximately $2,265,121.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 7.61% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On SpringWorks Therapeutics
A number of institutional investors and hedge funds have recently modified their holdings of SWTX. TD Asset Management Inc boosted its holdings in shares of SpringWorks Therapeutics by 122.1% in the 3rd quarter. TD Asset Management Inc now owns 138,832 shares of the company's stock worth $3,210,000 after purchasing an additional 76,316 shares during the period. Assetmark Inc. raised its position in SpringWorks Therapeutics by 15.6% during the 3rd quarter. Assetmark Inc. now owns 10,814 shares of the company's stock valued at $250,000 after purchasing an additional 1,461 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of SpringWorks Therapeutics by 7.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 33,260 shares of the company's stock worth $769,000 after acquiring an additional 2,400 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of SpringWorks Therapeutics by 96.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,612 shares of the company's stock worth $37,000 after acquiring an additional 792 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of SpringWorks Therapeutics by 4.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 9,770 shares of the company's stock worth $226,000 after acquiring an additional 441 shares in the last quarter.
About SpringWorks Therapeutics
(
Get Free Report)
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.
See Also
Before you consider SpringWorks Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SpringWorks Therapeutics wasn't on the list.
While SpringWorks Therapeutics currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Get This Free Report
