SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives Average Recommendation of “Buy” from Brokerages

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) have been given a consensus recommendation of “Buy” by the six research firms that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $70.00.

SWTX has been the topic of several recent analyst reports. Wedbush restated an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a report on Monday, January 13th. Guggenheim decreased 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 report on Wednesday, January 8th. HC Wainwright dropped their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Evercore ISI started coverage on SpringWorks Therapeutics in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 target price on the stock.

SpringWorks Therapeutics Stock Performance

Shares of SpringWorks Therapeutics stock opened at $36.16 on Monday. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -9.32 and a beta of 0.82. The company has a fifty day moving average of $38.12 and a 200-day moving average of $36.27. SpringWorks Therapeutics has a 52-week low of $28.21 and a 52-week high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping the consensus estimate 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 return on equity of 48.21% and a negative net margin of 203.09%. The company’s quarterly revenue was up 4810.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.27) earnings per share. On average, equities research analysts forecast that SpringWorks Therapeutics will post -3.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the transaction, the chief operating officer now owns 209,600 shares in the company, valued at approximately $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SWTX. China Universal Asset Management Co. Ltd. raised its stake in SpringWorks Therapeutics by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 15,773 shares of the company’s stock valued at $570,000 after buying an additional 1,488 shares during the last quarter. KBC Group NV raised its position in shares of SpringWorks Therapeutics by 59.1% in the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after purchasing an additional 978 shares during the last quarter. SG Americas Securities LLC bought a new position in SpringWorks Therapeutics in the 4th quarter worth about $210,000. AMI Asset Management Corp purchased a new stake in SpringWorks Therapeutics during the 4th quarter valued at about $1,438,000. Finally, Park Avenue Securities LLC bought a new stake in SpringWorks Therapeutics during the 4th quarter valued at about $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.