Analysts Set SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Target Price at $70.83

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has been given a consensus rating of “Buy” by the six ratings firms that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have covered the stock in the last year is $70.83.

Several research firms recently commented on SWTX. Wedbush reaffirmed an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, February 10th. Guggenheim reduced their price target 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 reaffirmed a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Wednesday, February 12th. Finally, Evercore ISI raised their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th.

Insiders Place Their Bets

In other news, Director Daniel Lynch sold 175,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $54.46, for a total value of $9,530,500.00. Following the sale, the director now directly owns 130,944 shares in the company, valued at approximately $7,131,210.24. This trade represents a 57.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $839,400.00. Following the completion of the sale, the chief operating officer now owns 209,600 shares in the company, valued at $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 302,750 shares of company stock worth $16,139,410 in the last three months. Corporate insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

A number of institutional investors have recently modified their holdings of the company. Boxer Capital Management LLC bought a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at about $123,620,000. Soros Fund Management LLC boosted its holdings in shares of SpringWorks Therapeutics by 7.4% in the 4th quarter. Soros Fund Management LLC now owns 600,470 shares of the company’s stock valued at $21,695,000 after buying an additional 41,149 shares in the last quarter. Northern Trust Corp raised its position in shares of SpringWorks Therapeutics by 8.8% in the 4th quarter. Northern Trust Corp now owns 655,678 shares of the company’s stock valued at $23,690,000 after purchasing an additional 52,908 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in SpringWorks Therapeutics by 42.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 407,683 shares of the company’s stock worth $14,730,000 after purchasing an additional 122,128 shares in the last quarter. Finally, Quarry LP increased its stake in SpringWorks Therapeutics by 66.7% during the 4th quarter. Quarry LP now owns 10,000 shares of the company’s stock valued at $361,000 after purchasing an additional 4,000 shares in the last quarter.

SpringWorks Therapeutics Price Performance

SWTX stock opened at $57.43 on Friday. The company has a market capitalization of $4.27 billion, a PE ratio of -14.80 and a beta of 0.81. SpringWorks Therapeutics has a 12 month low of $28.21 and a 12 month high of $60.00. The firm’s 50-day moving average is $39.35 and its 200 day moving average is $36.86.

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.