SpringWorks Therapeutics (NASDAQ:SWTX) Price Target Raised to $65.00 at Evercore ISI

SpringWorks Therapeutics (NASDAQ:SWTX) had its target price upped by Evercore ISI from $60.00 to $65.00 in a report released on Wednesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other research firms have also commented on SWTX. Guggenheim decreased their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wedbush restated an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, February 10th. Finally, HC Wainwright restated a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $70.83.

SpringWorks Therapeutics Stock Performance

NASDAQ:SWTX opened at $57.43 on Wednesday. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of -14.80 and a beta of 0.81. SpringWorks Therapeutics has a 52 week low of $28.21 and a 52 week high of $60.00. The firm has a 50-day moving average price of $39.03 and a two-hundred day moving average price of $36.71.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.03. The firm had revenue of $49.10 million during 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 last year, the business posted ($1.27) EPS. As a group, sell-side analysts forecast that SpringWorks Therapeutics will post -3.03 earnings per share for the current 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 shares were sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the transaction, the chief operating officer now directly owns 209,600 shares of the company’s stock, valued at approximately $8,796,912. This trade represents a 8.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Pichl sold 29,750 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the completion of the transaction, the insider now directly owns 50,762 shares of the company’s stock, valued at approximately $2,759,422.32. The trade was a 36.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 302,750 shares of company stock valued at $16,139,410. Company insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SWTX. Boxer Capital Management LLC bought a new position in SpringWorks Therapeutics in the 4th quarter valued at $123,620,000. Capital International Investors boosted its holdings in SpringWorks Therapeutics by 92.7% in the 4th quarter. Capital International Investors now owns 2,361,746 shares of the company’s stock valued at $85,330,000 after purchasing an additional 1,136,079 shares during the period. Pictet Asset Management Holding SA boosted its holdings in SpringWorks Therapeutics by 24.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock valued at $86,402,000 after purchasing an additional 465,494 shares during the period. Principal Financial Group Inc. boosted its holdings 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 purchasing an additional 464,903 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in SpringWorks Therapeutics by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock valued at $258,650,000 after purchasing an additional 445,593 shares during the period.

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.