SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives $69.50 Consensus Target Price from Brokerages

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) have earned an average rating of “Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have covered the stock in the last year is $69.50.

Several research analysts have recently commented on the company. Wedbush reissued an “outperform” rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a report on Monday, November 18th. JPMorgan Chase & Co. raised their price objective on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Evercore ISI began coverage on shares of SpringWorks Therapeutics in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 target price on the stock. Finally, HC Wainwright reduced their price target on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th.

SpringWorks Therapeutics Trading Down 2.1 %

Shares of SWTX stock opened at $36.35 on Thursday. The stock has a market capitalization of $2.70 billion, a P/E ratio of -9.37 and a beta of 0.86. The firm’s 50 day moving average is $36.06 and its 200 day moving average is $36.32. SpringWorks Therapeutics has a 12 month low of $28.21 and a 12 month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.03. The firm had revenue of $49.10 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted ($1.27) earnings per share. On average, equities analysts predict that SpringWorks Therapeutics will post -3.12 EPS for the current year.

Insider Transactions at SpringWorks Therapeutics

In other news, COO Badreddin Edris sold 20,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 209,600 shares in the company, valued at $8,796,912. This trade represents a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SWTX. Alpha DNA Investment Management LLC bought a new stake in SpringWorks Therapeutics in the 3rd quarter worth about $411,000. D. E. Shaw & Co. Inc. increased its stake in shares of SpringWorks Therapeutics by 16.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 758,712 shares of the company’s stock worth $28,581,000 after purchasing an additional 109,865 shares in the last quarter. Ally Bridge Group NY LLC bought a new stake in SpringWorks Therapeutics during the third quarter valued at about $7,296,000. Los Angeles Capital Management LLC raised its stake in SpringWorks Therapeutics by 238.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock valued at $1,513,000 after purchasing an additional 33,255 shares during the period. Finally, Seven Eight Capital LP bought a new stake in shares of SpringWorks Therapeutics during the second quarter valued at approximately $1,854,000.

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.