SpringWorks Therapeutics’ (SWTX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a report released on Monday, Benzinga reports. HC Wainwright currently has a $74.00 price target 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.

Several other analysts also recently issued reports on SWTX. Wedbush reaffirmed an outperform rating and issued a $75.00 price objective (up previously from $70.00) on shares of SpringWorks Therapeutics in a research report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an overweight rating in a research note on Wednesday, March 6th. Barclays raised their target price on SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an overweight rating in a research note on Thursday, February 29th. Finally, Guggenheim began coverage on SpringWorks Therapeutics in a research report on Monday, February 5th. They issued a buy rating and a $75.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics presently has an average rating of Buy and a consensus target price of $68.83.

SpringWorks Therapeutics Trading Up 1.6 %

SWTX stock opened at $42.95 on Monday. The company has a market cap of $3.18 billion, a price-to-earnings ratio of -8.36 and a beta of 0.84. SpringWorks Therapeutics has a 12-month low of $18.00 and a 12-month high of $53.92. The firm has a 50 day moving average of $46.91 and a 200-day moving average of $39.11.

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 firm had revenue of $21.00 million for the quarter, compared to analyst estimates of $12.07 million. During the same period in the previous year, the company posted ($1.18) earnings per share. SpringWorks Therapeutics’s revenue was up 2000.0% on a year-over-year basis. Sell-side analysts forecast that SpringWorks Therapeutics will post -4.75 earnings per share for the current fiscal year.

Insider Transactions at SpringWorks Therapeutics

In other news, insider Daniel Pichl sold 15,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $50.10, for a total value of $751,500.00. Following the transaction, the insider now owns 45,212 shares of the company’s stock, valued at approximately $2,265,121.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its holdings in SpringWorks Therapeutics by 96.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,612 shares of the company’s stock valued at $37,000 after purchasing an additional 792 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of SpringWorks Therapeutics during the 4th quarter worth about $74,000. Strs Ohio bought a new stake in SpringWorks Therapeutics during the 4th quarter valued at $102,000. SG Americas Securities LLC purchased a new stake in shares of SpringWorks Therapeutics in the fourth quarter worth approximately $157,000. Finally, Exchange Traded Concepts LLC lifted its position 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 in the last quarter.

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.