SpringWorks Therapeutics’ (SWTX) Neutral Rating Reiterated at Wedbush

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “neutral” rating reissued by equities researchers at Wedbush in a research report issued to clients and investors on Monday, Marketbeat reports. They presently have a $47.00 price objective on the stock, down from their previous price objective of $81.00. Wedbush’s price target would suggest a potential upside of 1.64% from the stock’s previous close.

A number of other equities analysts also recently issued reports on SWTX. Guggenheim lowered their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. HC Wainwright reiterated a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Finally, Evercore ISI lifted their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, SpringWorks Therapeutics has a consensus rating of “Hold” and an average target price of $56.43.

SpringWorks Therapeutics Trading Up 0.1 %

Shares of NASDAQ:SWTX opened at $46.24 on Monday. SpringWorks Therapeutics has a 12-month low of $28.21 and a 12-month high of $62.00. The business has a 50 day moving average of $45.73 and a two-hundred day moving average of $40.78. The company has a market capitalization of $3.47 billion, a PE ratio of -13.29 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced 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 for the quarter, compared to analysts’ expectations of $60.53 million. Equities research analysts predict that SpringWorks Therapeutics will post -2.05 earnings per share for the current fiscal year.

Insider Transactions at SpringWorks Therapeutics

In other news, CEO Saqib Islam sold 48,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $53.30, for a total value of $2,558,400.00. Following the transaction, the chief executive officer now directly owns 1,002,502 shares of the company’s stock, valued at approximately $53,433,356.60. This trade represents a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Badreddin Edris sold 30,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were 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 directly owns 189,712 shares of the company’s stock, valued at approximately $10,079,398.56. This represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 440,766 shares of company stock valued at $24,402,956 over the last ninety days. Insiders own 7.83% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC increased 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 shares of SpringWorks Therapeutics by 93.6% in the 4th quarter. Schroder Investment Management Group now owns 168,209 shares of the company’s stock worth $6,113,000 after acquiring an additional 81,314 shares during the last quarter. Vanguard Group Inc. raised its holdings 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 acquiring an additional 445,593 shares during the period. BIT Capital GmbH boosted its position in shares of SpringWorks Therapeutics by 18.7% during the 4th 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 during the last quarter. Finally, Platinum Investment Management Ltd. purchased a new stake in shares of SpringWorks Therapeutics in the fourth quarter valued at about $1,694,000.

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.