SpringWorks Therapeutics (NASDAQ:SWTX) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research report released on Monday morning, Benzinga reports. The brokerage currently has a $74.00 target price on the stock. HC Wainwright also issued estimates for SpringWorks Therapeutics’ Q2 2024 earnings at ($0.99) EPS, Q3 2024 earnings at ($0.89) EPS, Q4 2024 earnings at ($0.80) EPS and FY2024 earnings at ($3.86) EPS.

A number of other equities research analysts have also recently weighed in on the company. Wedbush restated an outperform rating and set a $75.00 price objective (up from $70.00) on shares of SpringWorks Therapeutics in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their price target on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an overweight rating in a report on Wednesday, March 6th. Guggenheim started coverage on SpringWorks Therapeutics in a report on Monday, February 5th. They set a buy rating and a $75.00 target price on the stock. Finally, Barclays increased their target price on shares of SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an overweight rating in a research note on Thursday, February 29th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $68.83.

SpringWorks Therapeutics Stock Performance

SWTX stock opened at $42.95 on Monday. The company’s fifty day moving average price is $46.91 and its 200-day moving average price is $39.11. SpringWorks Therapeutics has a one year low of $18.00 and a one year high of $53.92. The company has a market capitalization of $3.18 billion, a PE ratio of -8.36 and a beta of 0.84.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.01). The business had revenue of $21.00 million for the quarter, compared to analyst estimates of $12.07 million. During the same quarter last year, the business earned ($1.18) EPS. The firm’s revenue was up 2000.0% on a year-over-year basis. On average, research analysts predict that SpringWorks Therapeutics will post -4.75 EPS for the current fiscal year.

Insider Buying and Selling at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 15,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $50.10, for a total value of $751,500.00. Following the sale, the insider now directly owns 45,212 shares of the company’s stock, valued at approximately $2,265,121.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. boosted its position in shares of SpringWorks Therapeutics by 96.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,612 shares of the company’s stock worth $37,000 after acquiring an additional 792 shares during the last quarter. Headlands Technologies LLC purchased a new position in SpringWorks Therapeutics during the fourth quarter worth approximately $74,000. Strs Ohio acquired a new position in shares of SpringWorks Therapeutics in the 4th quarter valued at $102,000. SG Americas Securities LLC purchased a new stake in shares of SpringWorks Therapeutics during the 4th quarter valued at $157,000. Finally, Exchange Traded Concepts LLC increased its holdings in shares of SpringWorks Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,323 shares of the company’s stock worth $194,000 after buying an additional 1,350 shares during the last quarter.

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.