SpringWorks Therapeutics' (SWTX) "Hold" Rating Reiterated at TD Cowen

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report)'s stock had its "hold" rating reissued by stock analysts at TD Cowen in a report released on Tuesday,Benzinga reports. They currently have a $47.00 target price on the stock, down from their prior target price of $66.00. TD Cowen's target price would suggest a potential upside of 1.78% from the company's current price.

A number of other equities research analysts have also issued reports on SWTX. Cowen lowered shares of SpringWorks Therapeutics to a "hold" rating in a research note on Tuesday. Guggenheim downgraded SpringWorks Therapeutics from a "buy" rating to a "neutral" rating in a research note on Monday. Evercore ISI boosted their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Barclays reaffirmed an "equal weight" rating and set a $47.00 price objective (down previously from $63.00) on shares of SpringWorks Therapeutics in a research report on Monday. Finally, HC Wainwright restated a "buy" rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $60.86.

SpringWorks Therapeutics Stock Performance

SpringWorks Therapeutics stock opened at $46.18 on Tuesday. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -13.27 and a beta of 0.79. SpringWorks Therapeutics has a 1 year low of $28.21 and a 1 year high of $62.00. The firm's 50 day moving average price is $46.01 and its two-hundred day moving average price is $40.74.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.38). The firm had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. As a group, equities analysts predict that SpringWorks Therapeutics will post -2.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel Lynch sold 175,000 shares of the firm's stock in a transaction on 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 sale, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Badreddin Edris sold 20,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $54.23, for a total value of $1,084,600.00. Following the sale, the chief operating officer now owns 169,712 shares in the company, valued at $9,203,481.76. The trade was a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 440,766 shares of company stock valued at $24,402,956 over the last quarter. Corporate insiders own 7.83% of the company's stock.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of institutional investors have recently modified their holdings of SWTX. Boxer Capital Management LLC bought a new position in SpringWorks Therapeutics in the 4th quarter valued at $123,620,000. Capital International Investors boosted its stake in SpringWorks Therapeutics by 92.7% in the fourth quarter. Capital International Investors now owns 2,361,746 shares of the company's stock valued at $85,330,000 after acquiring an additional 1,136,079 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of SpringWorks Therapeutics by 24.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company's stock valued at $86,402,000 after purchasing an additional 465,494 shares during the period. Principal Financial Group Inc. boosted its position in shares of SpringWorks Therapeutics by 102.5% in the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company's stock worth $29,427,000 after purchasing an additional 464,903 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in SpringWorks Therapeutics by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock valued at $258,650,000 after buying an additional 445,593 shares during the period.

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.

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