SpringWorks Therapeutics (NASDAQ:SWTX) Earns "Neutral" Rating from Wedbush

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report)'s stock had its "neutral" rating reaffirmed by investment analysts at Wedbush in a research note issued to investors on Monday,RTT News reports. They currently have a $47.00 price target on the stock, down from their prior price target of $81.00. Wedbush's target price indicates a potential upside of 1.94% from the company's current price.

Several other analysts also recently weighed in on SWTX. Evercore ISI lifted their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. 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 research report on Wednesday, January 8th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $66.40.

SpringWorks Therapeutics Price Performance

NASDAQ SWTX traded up $1.39 during trading hours on Monday, hitting $46.11. The company had a trading volume of 50,190,486 shares, compared to its average volume of 1,679,980. SpringWorks Therapeutics has a fifty-two week low of $28.21 and a fifty-two week high of $62.00. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -13.25 and a beta of 0.79. The firm's 50 day moving average is $46.20 and its 200 day moving average is $40.64.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The business had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. On average, equities analysts anticipate that SpringWorks Therapeutics will post -2.05 EPS for the current year.

Insider Buying and Selling

In related news, insider Daniel Pichl sold 29,750 shares of the business's stock in a transaction that occurred 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 owns 50,762 shares in the company, valued at $2,759,422.32. The trade was a 36.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Saqib Islam sold 49,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $54.24, for a total transaction of $2,657,760.00. Following the completion of the transaction, the chief executive officer now owns 954,869 shares of the company's stock, valued at $51,792,094.56. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 440,766 shares of company stock valued at $24,402,956 over the last three months. 7.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank lifted its stake in SpringWorks Therapeutics by 38.2% in 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 in the last quarter. AlphaQuest LLC lifted its stake in SpringWorks Therapeutics by 70.2% in the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock valued at $36,000 after acquiring an additional 414 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in SpringWorks Therapeutics in the 4th quarter valued at approximately $45,000. State of Wyoming lifted its stake in SpringWorks Therapeutics by 39.5% in the 4th 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. bought a new stake in SpringWorks Therapeutics in the 4th quarter valued at approximately $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.

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