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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has been assigned an average recommendation of “Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Six research 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 brokerages have commented on SWTX. Wedbush reissued an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday. Guggenheim dropped their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Evercore ISI lifted their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Wednesday.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction on 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 directly owns 209,600 shares of the company’s stock, valued at $8,796,912. The trade was a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Saqib Islam sold 48,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,002,502 shares of the company’s stock, valued at $53,433,356.60. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 302,750 shares of company stock valued at $16,139,410 over the last three months. Insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Huntington National Bank lifted its stake in SpringWorks Therapeutics by 38.2% in the fourth quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after purchasing an additional 192 shares during the last quarter. AlphaQuest LLC increased its position in shares of SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after acquiring an additional 414 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of SpringWorks Therapeutics in the fourth quarter valued at about $45,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of SpringWorks Therapeutics by 21.4% in the third 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 during the period. Finally, KBC Group NV increased its position 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 acquiring an additional 978 shares during the period.

SpringWorks Therapeutics Price Performance

Shares of NASDAQ:SWTX opened at $58.59 on Friday. The firm has a fifty day moving average price of $38.69 and a two-hundred day moving average price of $36.56. SpringWorks Therapeutics has a one year low of $28.21 and a one year high of $60.00. The company has a market cap of $4.36 billion, a price-to-earnings ratio of -15.10 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. During the same period last year, the firm earned ($1.27) EPS. The business’s quarterly revenue was up 4810.0% compared to the same quarter last year. Equities research analysts expect that SpringWorks Therapeutics will post -3.03 EPS for the current fiscal year.

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.