SpringWorks Therapeutics' (SWTX) "Equal Weight" Rating Reiterated at Barclays

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report)'s stock had its "equal weight" rating reissued by stock analysts at Barclays in a research note issued on Monday,Benzinga reports. They currently have a $47.00 target price on the stock, down from their previous target price of $63.00. Barclays's price objective would suggest a potential upside of 1.79% from the stock's current price.

A number of other research firms have also weighed in on SWTX. Evercore ISI raised their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Wedbush reiterated a "neutral" rating and issued a $47.00 target price (down from $81.00) on shares of SpringWorks Therapeutics in a research note on Monday. Guggenheim cut their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Finally, HC Wainwright reissued a "buy" rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, SpringWorks Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $63.17.

SpringWorks Therapeutics Stock Performance

NASDAQ SWTX traded up $1.46 during trading on Monday, reaching $46.18. 69,600,629 shares of the company traded hands, compared to its average volume of 1,744,629. The company has a market cap of $3.46 billion, a price-to-earnings ratio of -13.27 and a beta of 0.79. The stock's 50 day moving average price is $46.20 and its two-hundred day moving average price is $40.64. SpringWorks Therapeutics has a 1-year low of $28.21 and a 1-year high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly 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 company had revenue of $61.55 million during the quarter, compared to the consensus estimate of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. Equities research analysts expect that SpringWorks Therapeutics will post -2.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Badreddin Edris sold 30,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the sale, the chief operating officer now owns 189,712 shares in the company, valued at approximately $10,079,398.56. This represents a 13.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel Lynch sold 175,000 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the completion of the transaction, the director now owns 130,944 shares in the company, valued at approximately $7,131,210.24. The trade was a 57.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 440,766 shares of company stock worth $24,402,956. 7.83% of the stock is owned by insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Large investors have recently bought and sold shares of the business. Barclays PLC boosted its stake in SpringWorks Therapeutics by 60.4% during the third quarter. Barclays PLC now owns 155,676 shares of the company's stock worth $4,987,000 after buying an additional 58,645 shares during the last quarter. Exome Asset Management LLC acquired a new position in SpringWorks Therapeutics during the 3rd quarter worth $3,226,000. Principal Financial Group Inc. raised its holdings in SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company's stock valued at $29,427,000 after acquiring an additional 464,903 shares in the last quarter. Park Avenue Securities LLC purchased a new position in SpringWorks Therapeutics in the fourth quarter valued at $203,000. Finally, AMI Asset Management Corp acquired a new position in SpringWorks Therapeutics in the fourth quarter valued at approximately $1,438,000.

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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