SpringWorks Therapeutics’ (SWTX) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a report released on Monday,RTT News reports. The firm currently has a $77.00 price objective on the stock. Wedbush also issued estimates for SpringWorks Therapeutics’ FY2027 earnings at $3.42 EPS.

Other analysts have also issued reports about the company. HC Wainwright decreased their price objective on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Evercore ISI initiated coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective for the company. Finally, Guggenheim decreased their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $70.00.

SpringWorks Therapeutics Stock Performance

Shares of SWTX opened at $33.48 on Monday. SpringWorks Therapeutics has a 1 year low of $28.21 and a 1 year high of $53.92. The stock’s fifty day moving average price is $37.97 and its two-hundred day moving average price is $36.40.

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

Insiders Place Their Bets

In other news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total transaction of $839,400.00. Following the completion of the sale, the chief operating officer now directly owns 209,600 shares of the company’s stock, valued at approximately $8,796,912. The trade was a 8.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 7.61% of the company’s stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several hedge funds have recently added to or reduced their stakes in SWTX. FMR LLC boosted its stake in SpringWorks Therapeutics by 0.3% in the third quarter. FMR LLC now owns 11,140,946 shares of the company’s stock worth $356,956,000 after buying an additional 28,555 shares in the last quarter. Maverick Capital Ltd. grew its holdings in shares of SpringWorks Therapeutics by 6.8% during the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock valued at $89,018,000 after purchasing an additional 177,824 shares during the last quarter. Geode Capital Management LLC raised its position in SpringWorks Therapeutics by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock worth $53,526,000 after purchasing an additional 109,189 shares during the period. Duquesne Family Office LLC bought a new stake in SpringWorks Therapeutics in the second quarter worth $38,475,000. Finally, Principal Financial Group Inc. lifted its stake in SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after purchasing an additional 464,903 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.