SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives $70.00 Average PT from Analysts

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) have been assigned an average rating of “Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $70.00.

Several brokerages have recently issued reports on SWTX. Evercore ISI initiated coverage on SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price target on the stock. Guggenheim lowered their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. HC Wainwright cut their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Wedbush restated an “outperform” rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a report on Monday, January 13th.

SpringWorks Therapeutics Stock Down 3.7 %

Shares of 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 stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -9.02 and a beta of 0.82. The stock’s fifty day simple moving average is $38.13 and its 200 day simple moving average is $36.31.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly 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. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The business had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. During the same period in the prior year, the business posted ($1.27) earnings per share. SpringWorks Therapeutics’s revenue for the quarter was up 4810.0% compared to the same quarter last year. As a group, analysts anticipate that SpringWorks Therapeutics will post -3.11 earnings per share for the current year.

Insider Transactions at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now owns 209,600 shares in the company, valued at approximately $8,796,912. This trade represents a 8.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of institutional investors have recently made changes to their positions in SWTX. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 valued at $87,000 after acquiring an additional 474 shares in the last quarter. KBC Group NV lifted its holdings in shares of SpringWorks Therapeutics by 59.1% in the fourth quarter. KBC Group NV now owns 2,634 shares of the company’s stock valued at $95,000 after purchasing an additional 978 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of SpringWorks Therapeutics during the third quarter worth about $147,000. Quarry LP grew its holdings in shares of SpringWorks Therapeutics by 56.3% during the second 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, Park Avenue Securities LLC acquired a new stake in SpringWorks Therapeutics in the 4th 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.