SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives $68.00 Average Target Price from Analysts

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has earned an average recommendation of “Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $68.00.

Several brokerages recently weighed in on SWTX. Guggenheim began coverage on SpringWorks Therapeutics in a research report on Monday, February 5th. They set a “buy” rating and a $75.00 price objective for the company. HC Wainwright increased their target price on SpringWorks Therapeutics from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Wedbush increased their price target on SpringWorks Therapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. raised their target price on SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Finally, Barclays raised their price objective on SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th.

SpringWorks Therapeutics Stock Down 1.8 %

Shares of SWTX stock opened at $49.22 on Tuesday. SpringWorks Therapeutics has a twelve month low of $18.00 and a twelve month high of $53.92. The company has a market cap of $3.63 billion, a P/E ratio of -9.72 and a beta of 0.83. The business has a fifty day simple moving average of $47.70 and a 200 day simple moving average of $34.80.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($1.44) earnings per share for the quarter, missing the consensus estimate of ($1.24) by ($0.20). The company had revenue of $5.45 million during the quarter, compared to analyst estimates of $1.26 million. During the same period in the prior year, the company posted ($1.19) EPS. As a group, equities research analysts anticipate that SpringWorks Therapeutics will post -4.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 15,000 shares of SpringWorks Therapeutics stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $50.10, for a total transaction of $751,500.00. Following the completion of the sale, the insider now owns 45,212 shares of the company’s stock, valued at $2,265,121.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 7.43% of the company’s stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SWTX. JPMorgan Chase & Co. raised its position in SpringWorks Therapeutics by 278.5% during the 1st quarter. JPMorgan Chase & Co. now owns 84,665 shares of the company’s stock valued at $4,778,000 after purchasing an additional 62,298 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of SpringWorks Therapeutics by 52.4% during the 1st quarter. MetLife Investment Management LLC now owns 16,081 shares of the company’s stock worth $908,000 after acquiring an additional 5,529 shares during the period. Rhumbline Advisers grew its holdings in shares of SpringWorks Therapeutics by 3.7% during the 1st quarter. Rhumbline Advisers now owns 30,629 shares of the company’s stock worth $1,729,000 after acquiring an additional 1,101 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of SpringWorks Therapeutics by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 195,539 shares of the company’s stock worth $11,040,000 after buying an additional 3,296 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of SpringWorks Therapeutics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,880,986 shares of the company’s stock worth $162,602,000 after buying an additional 18,674 shares during the last quarter.

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.