SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives $70.83 Average PT from Analysts

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) have earned an average rating of “Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $71.50.

SWTX has been the topic of a number of recent research reports. Guggenheim decreased their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI lifted their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wedbush reissued an “outperform” rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a report on Thursday. Finally, HC Wainwright restated a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday, February 12th.

SpringWorks Therapeutics Trading Up 7.5 %

NASDAQ:SWTX opened at $59.93 on Friday. The firm has a market capitalization of $4.46 billion, a PE ratio of -15.45 and a beta of 0.81. SpringWorks Therapeutics has a 1 year low of $28.21 and a 1 year high of $62.00. The firm’s fifty day simple moving average is $40.70 and its 200 day simple moving average is $37.47.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. As a group, analysts anticipate that SpringWorks Therapeutics will post -3.04 EPS for the current fiscal year.

Insider Activity

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 48,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,002,502 shares of the company’s stock, valued at approximately $53,433,356.60. The trade was a 4.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 owns 209,600 shares of the company’s stock, valued at approximately $8,796,912. This represents a 8.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 313,822 shares of company stock valued at $16,802,876 over the last three months. 7.61% of the stock is owned by insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boxer Capital Management LLC acquired a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at approximately $123,620,000. Capital International Investors raised its holdings in SpringWorks Therapeutics by 92.7% in the fourth quarter. Capital International Investors now owns 2,361,746 shares of the company’s stock worth $85,330,000 after purchasing an additional 1,136,079 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of SpringWorks Therapeutics by 24.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock worth $86,402,000 after purchasing an additional 465,494 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of 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 during the period. Finally, Vanguard Group Inc. increased its position in shares of 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 buying an additional 445,593 shares in the last quarter.

About SpringWorks Therapeutics

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.