SpringWorks Therapeutics’ (SWTX) “Hold” Rating Reiterated at TD Cowen

TD Cowen reissued their hold rating on shares of SpringWorks Therapeutics (NASDAQ:SWTXFree Report) in a report released on Tuesday, MarketBeat reports. They currently have a $47.00 price target on the stock, down from their prior price target of $66.00.

SWTX has been the subject of several other research reports. Wedbush reaffirmed a “neutral” rating and set a $47.00 price target (down previously from $81.00) on shares of SpringWorks Therapeutics in a research note on Monday. Cowen cut shares of SpringWorks Therapeutics to a “hold” rating in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Evercore ISI lifted their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $47.00 target price (down previously from $63.00) on shares of SpringWorks Therapeutics in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $52.57.

View Our Latest Research Report on SWTX

SpringWorks Therapeutics Price Performance

Shares of SWTX stock opened at $46.21 on Tuesday. The business’s fifty day moving average price is $45.29 and its 200 day moving average price is $40.93. The firm has a market capitalization of $3.47 billion, a PE ratio of -13.28 and a beta of 0.79. SpringWorks Therapeutics has a 1-year low of $28.21 and a 1-year high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTXGet Free Report) last issued its 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 net margin of 134.73% and a negative return on equity of 46.74%. The company had revenue of $61.55 million during the quarter, compared to analysts’ expectations of $60.53 million. Equities research analysts expect that SpringWorks Therapeutics will post -2.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Badreddin Edris sold 30,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly 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 can be accessed through this hyperlink. Also, Director Daniel Lynch sold 175,000 shares of the 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 transaction, the director now directly owns 130,944 shares in the company, valued at $7,131,210.24. The trade was a 57.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 440,766 shares of company stock valued at $24,402,956. Insiders own 7.83% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Huntington National Bank raised its position in shares of SpringWorks Therapeutics by 38.2% during 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 increased its stake in SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after purchasing an additional 414 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of SpringWorks Therapeutics in the 4th quarter worth about $45,000. State of Wyoming lifted its position in shares of SpringWorks Therapeutics by 39.5% in the 4th quarter. State of Wyoming now owns 1,530 shares of the company’s stock worth $55,000 after buying an additional 433 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in shares of SpringWorks Therapeutics in the 4th quarter valued at about $56,000.

SpringWorks Therapeutics Company Profile

(Get Free Report)

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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Analyst Recommendations for SpringWorks Therapeutics (NASDAQ:SWTX)

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