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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has earned a consensus recommendation of “Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $68.00.

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

SpringWorks Therapeutics Stock Up 7.0 %

SWTX opened at $42.89 on Friday. The company has a market capitalization of $3.16 billion, a PE ratio of -8.34 and a beta of 0.83. The firm has a 50-day simple moving average of $47.90 and a two-hundred day simple moving average of $37.39. SpringWorks Therapeutics has a 52 week low of $18.00 and a 52 week high of $53.92.

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

Insider Activity at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 15,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 45,212 shares in the company, valued at $2,265,121.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.61% of the stock is currently owned by insiders.

Institutional Trading of SpringWorks Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its stake in SpringWorks Therapeutics by 96.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,612 shares of the company’s stock worth $37,000 after buying an additional 792 shares during the period. Headlands Technologies LLC bought a new position in SpringWorks Therapeutics in the 4th quarter worth about $74,000. Strs Ohio bought a new stake in shares of SpringWorks Therapeutics during the fourth quarter valued at approximately $102,000. SG Americas Securities LLC purchased a new stake in shares of SpringWorks Therapeutics in the fourth quarter valued at approximately $157,000. Finally, Exchange Traded Concepts LLC grew its stake in SpringWorks Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,323 shares of the company’s stock worth $194,000 after purchasing an additional 1,350 shares in 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.