SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives Consensus Rating of “Buy” from Analysts

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has earned a consensus recommendation of “Buy” from the six research firms that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have covered the stock in the last year is $69.50.

SWTX has been the topic of a number of research reports. HC Wainwright dropped their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Evercore ISI initiated coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Finally, Wedbush reaffirmed an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, November 18th.

Insider Buying and Selling

In related 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 transaction, the chief operating officer now owns 209,600 shares of the company’s stock, valued at $8,796,912. The trade was a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Several large investors have recently bought and sold shares of SWTX. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of SpringWorks Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after acquiring an additional 474 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in SpringWorks Therapeutics in the 2nd quarter worth about $123,000. Quantbot Technologies LP purchased a new stake in SpringWorks Therapeutics in the 3rd quarter valued at about $147,000. Quarry LP lifted its position in shares of SpringWorks Therapeutics by 56.3% during the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $188,000 after buying an additional 1,800 shares in the last quarter. Finally, Commerce Bank bought a new position in shares of SpringWorks Therapeutics during the 3rd quarter worth approximately $207,000.

SpringWorks Therapeutics Trading Down 1.5 %

Shares of SpringWorks Therapeutics stock opened at $36.81 on Thursday. The business has a 50-day moving average price of $35.83 and a two-hundred day moving average price of $36.36. SpringWorks Therapeutics has a 1-year low of $28.21 and a 1-year high of $53.92. The company has a market cap of $2.74 billion, a P/E ratio of -9.49 and a beta of 0.86.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.03. The business 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% on a year-over-year basis. During the same period in the previous year, the company posted ($1.27) earnings per share. Equities research analysts forecast that SpringWorks Therapeutics will post -3.12 EPS for the current fiscal year.

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.