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

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

Other research analysts have also issued research reports about the company. Evercore ISI started coverage on SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 target price for the company. 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. Finally, Wedbush reissued an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a report on Monday, November 18th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $70.00.

SpringWorks Therapeutics Price Performance

SWTX opened at $43.00 on Wednesday. SpringWorks Therapeutics has a 12-month low of $28.21 and a 12-month high of $53.92. The stock has a market capitalization of $3.20 billion, a PE ratio of -11.08 and a beta of 0.82. The firm’s fifty day moving average price is $37.83 and its 200 day moving average price is $36.44.

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

Insider Buying and Selling

In related news, COO Badreddin Edris sold 20,000 shares of the firm’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 value of $839,400.00. Following the sale, the chief operating officer now directly owns 209,600 shares in the company, valued at $8,796,912. This trade represents a 8.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its position in SpringWorks Therapeutics by 102.5% in the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after buying an additional 464,903 shares in the last quarter. Exome Asset Management LLC bought a new position in shares of SpringWorks Therapeutics in the third quarter valued at approximately $3,226,000. Geode Capital Management LLC increased its stake in shares of SpringWorks Therapeutics by 7.0% during the third quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock valued at $53,526,000 after acquiring an additional 109,189 shares during the period. Barclays PLC raised its holdings in SpringWorks Therapeutics by 60.4% during the third quarter. Barclays PLC now owns 155,676 shares of the company’s stock worth $4,987,000 after purchasing an additional 58,645 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new stake in SpringWorks Therapeutics in the third quarter worth approximately $746,000.

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.