SpringWorks Therapeutics (NASDAQ:SWTX) Price Target Cut to $78.00 by Analysts at Guggenheim

SpringWorks Therapeutics (NASDAQ:SWTX) had its target price cut by stock analysts at Guggenheim from $80.00 to $78.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 93.31% from the stock’s current price.

A number of other equities analysts also recently commented on SWTX. Wedbush restated an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a report on Monday, November 18th. Evercore ISI began coverage on shares of SpringWorks Therapeutics in a report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price target on the stock. Finally, HC Wainwright decreased their price objective 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $70.00.

SpringWorks Therapeutics Stock Performance

NASDAQ:SWTX traded down $0.85 during trading hours on Wednesday, hitting $40.35. 1,293,929 shares of the company’s stock traded hands, compared to its average volume of 1,638,655. SpringWorks Therapeutics has a twelve month low of $28.21 and a twelve month high of $53.92. The firm has a market cap of $3.00 billion, a P/E ratio of -10.40 and a beta of 0.82. The stock’s fifty day moving average price is $37.18 and its two-hundred day moving average price is $36.33.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results 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. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The company had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. During the same quarter last year, the business posted ($1.27) EPS. The company’s revenue for the quarter was up 4810.0% on a year-over-year basis. On average, equities research analysts predict that SpringWorks Therapeutics will post -3.12 earnings per share for the current year.

Insider Activity at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the transaction, the chief operating officer now directly owns 209,600 shares of the company’s stock, valued at $8,796,912. The trade was a 8.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 7.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SpringWorks Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alpha DNA Investment Management LLC acquired a new position in SpringWorks Therapeutics in the 3rd quarter valued at approximately $411,000. D. E. Shaw & Co. Inc. raised its stake in shares of SpringWorks Therapeutics by 16.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 758,712 shares of the company’s stock valued at $28,581,000 after purchasing an additional 109,865 shares in the last quarter. Ally Bridge Group NY LLC bought a new position in SpringWorks Therapeutics in the third quarter worth $7,296,000. Los Angeles Capital Management LLC lifted its position in SpringWorks Therapeutics by 238.3% in the third quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock worth $1,513,000 after purchasing an additional 33,255 shares during the period. Finally, Seven Eight Capital LP acquired a new stake in SpringWorks Therapeutics during the second quarter worth $1,854,000.

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.