SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives $70.00 Average Target Price from Brokerages

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) have been given a consensus rating of “Buy” by the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $70.00.

A number of equities analysts have weighed in on SWTX shares. Wedbush reissued an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, January 13th. Evercore ISI began coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 target price on the stock. HC Wainwright cut their price target on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Guggenheim reduced 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 report on Wednesday, January 8th.

SpringWorks Therapeutics Stock Performance

NASDAQ:SWTX opened at $35.00 on Monday. SpringWorks Therapeutics has a 52-week low of $28.21 and a 52-week high of $53.92. The company has a market cap of $2.60 billion, a P/E ratio of -9.02 and a beta of 0.82. The stock’s 50-day simple moving average is $38.13 and its 200 day simple moving average is $36.31.

SpringWorks Therapeutics (NASDAQ:SWTX) last released 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 company had revenue of $49.10 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 4810.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.27) EPS. As a group, equities analysts predict that SpringWorks Therapeutics will post -3.11 earnings per share for the current fiscal year.

Insider Buying and Selling at SpringWorks Therapeutics

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 owns 209,600 shares in the company, valued at $8,796,912. This trade represents a 8.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after acquiring an additional 474 shares during the period. KBC Group NV raised its position in shares of SpringWorks Therapeutics by 59.1% in the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after acquiring an additional 978 shares in the last quarter. Quantbot Technologies LP bought a new position in SpringWorks Therapeutics in the third quarter worth $147,000. Quarry LP lifted its position in SpringWorks Therapeutics by 56.3% during the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $188,000 after acquiring an additional 1,800 shares during the period. Finally, Park Avenue Securities LLC purchased a new position in shares of SpringWorks Therapeutics during the fourth quarter valued at approximately $203,000.

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.