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

SpringWorks Therapeutics (NASDAQ:SWTX) had its price objective dropped by equities researchers 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 indicates a potential upside of 92.64% from the stock’s current price.

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

SpringWorks Therapeutics Stock Performance

SWTX stock opened at $40.49 on Wednesday. SpringWorks Therapeutics has a one year low of $28.21 and a one year high of $53.92. The company has a market capitalization of $3.01 billion, a PE ratio of -10.44 and a beta of 0.82. The company’s 50 day moving average price is $37.58 and its two-hundred day moving average price is $36.39.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $53.28 million. During the same quarter last year, the company earned ($1.27) EPS. The firm’s revenue was up 4810.0% compared to the same quarter last year. On average, research analysts predict that SpringWorks Therapeutics will post -3.12 EPS for the current year.

Insider Transactions 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 transaction of $839,400.00. Following 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 can be accessed through this link. Corporate insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Profund Advisors LLC grew its stake in SpringWorks Therapeutics by 1.3% in the second 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. boosted its holdings in shares of SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after buying an additional 474 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of SpringWorks Therapeutics by 1.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company’s stock worth $1,486,000 after buying an additional 871 shares during the period. E Fund Management Co. Ltd. increased its stake in shares of SpringWorks Therapeutics by 11.6% in the 2nd quarter. E Fund Management Co. Ltd. now owns 9,467 shares of the company’s stock worth $357,000 after acquiring an additional 981 shares in the last quarter. Finally, Quarry LP lifted its position in SpringWorks Therapeutics by 20.0% during the 3rd quarter. Quarry LP now owns 6,000 shares of the company’s stock valued at $192,000 after acquiring an additional 1,000 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.