SpringWorks Therapeutics (NASDAQ:SWTX) Receives "Equal Weight" Rating from Barclays

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report)'s stock had its "equal weight" rating reaffirmed by research analysts at Barclays in a research report issued on Monday, MarketBeat Ratings reports. They currently have a $47.00 price target on the stock, down from their prior price target of $63.00. Barclays's price target indicates a potential upside of 1.67% from the company's previous close.

Other equities research analysts have also recently issued research reports about the company. Evercore ISI raised 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. Wedbush reaffirmed a "neutral" rating and set a $47.00 price objective (down previously from $81.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Guggenheim dropped their target price 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 issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, SpringWorks Therapeutics currently has a consensus rating of "Hold" and a consensus price target of $52.57.

SpringWorks Therapeutics Stock Performance

Shares of SWTX traded up $0.02 during mid-day trading on Monday, reaching $46.23. 5,241,136 shares of the company were exchanged, compared to its average volume of 1,903,365. The business has a 50 day simple moving average of $45.13 and a two-hundred day simple moving average of $41.04. The stock has a market capitalization of $3.47 billion, a PE ratio of -13.28 and a beta of 0.79. SpringWorks Therapeutics has a 52 week low of $28.21 and a 52 week high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) 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. On average, analysts predict that SpringWorks Therapeutics will post -2.05 EPS for the current year.

Insider Buying and Selling at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 29,750 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 50,762 shares of the company's stock, valued at approximately $2,759,422.32. This trade represents a 36.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Lynch sold 175,000 shares of SpringWorks Therapeutics stock in a transaction dated 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 transaction, the director now owns 130,944 shares of the company's stock, valued at $7,131,210.24. This trade represents a 57.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 440,766 shares of company stock valued at $24,402,956. Corporate insiders own 7.83% of the company's stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC raised its holdings in shares of SpringWorks Therapeutics by 30.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 61,760 shares of the company's stock valued at $2,231,000 after purchasing an additional 14,548 shares during the last quarter. Schroder Investment Management Group increased its stake in SpringWorks Therapeutics by 93.6% in the 4th quarter. Schroder Investment Management Group now owns 168,209 shares of the company's stock valued at $6,113,000 after buying an additional 81,314 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of SpringWorks Therapeutics by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock worth $258,650,000 after buying an additional 445,593 shares in the last quarter. BIT Capital GmbH grew its holdings in shares of SpringWorks Therapeutics by 18.7% in the fourth quarter. BIT Capital GmbH now owns 53,539 shares of the company's stock valued at $1,934,000 after acquiring an additional 8,429 shares in the last quarter. Finally, Platinum Investment Management Ltd. bought a new position in shares of SpringWorks Therapeutics in the fourth quarter valued at approximately $1,694,000.

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.