SpringWorks Therapeutics (NASDAQ:SWTX) Price Target Lowered to $78.00 at Guggenheim

SpringWorks Therapeutics (NASDAQ:SWTX) had its target price reduced by Guggenheim from $80.00 to $78.00 in a research report report published on Wednesday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on SWTX. Wedbush reiterated an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. HC Wainwright reduced their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Evercore ISI began coverage on shares of SpringWorks Therapeutics in a research note on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price target on the stock. Six research 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 $70.00.

SpringWorks Therapeutics Price Performance

SWTX opened at $40.49 on Wednesday. The firm has a market cap of $3.01 billion, a PE ratio of -10.44 and a beta of 0.82. The stock has a 50-day moving average price of $37.38 and a 200-day moving average price of $36.36. SpringWorks Therapeutics has a 1 year low of $28.21 and a 1 year high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.03. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The business had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. During the same period last year, the business posted ($1.27) EPS. The company’s revenue was up 4810.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that SpringWorks Therapeutics will post -3.12 EPS for the current year.

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total transaction of $839,400.00. Following the completion of the transaction, the chief operating officer now owns 209,600 shares in the company, valued at $8,796,912. The trade was a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SWTX. Profund Advisors LLC lifted its position in shares of SpringWorks Therapeutics by 1.3% in the 2nd quarter. Profund Advisors LLC now owns 29,048 shares of the company’s stock worth $1,094,000 after purchasing an additional 362 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after purchasing an additional 474 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in SpringWorks Therapeutics by 1.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company’s stock worth $1,486,000 after purchasing an additional 871 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in shares of SpringWorks Therapeutics by 11.6% during the second quarter. E Fund Management Co. Ltd. now owns 9,467 shares of the company’s stock valued at $357,000 after buying an additional 981 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of SpringWorks Therapeutics by 20.0% in the 3rd quarter. Quarry LP now owns 6,000 shares of the company’s stock valued at $192,000 after buying an additional 1,000 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.