SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Given Consensus Rating of “Buy” by Brokerages

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has earned a consensus rating of “Buy” from the six analysts that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $69.50.

A number of analysts have recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday, November 18th. Evercore ISI initiated coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 target price on the stock. HC Wainwright dropped their price objective on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lifted their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total transaction of $839,400.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

Several institutional investors have recently modified their holdings of SWTX. Profund Advisors LLC lifted its holdings in SpringWorks Therapeutics by 1.3% during the 2nd quarter. Profund Advisors LLC now owns 29,048 shares of the company’s stock worth $1,094,000 after buying an additional 362 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of SpringWorks Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after acquiring an additional 474 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of SpringWorks Therapeutics by 1.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company’s stock worth $1,486,000 after acquiring an additional 871 shares during the period. E Fund Management Co. Ltd. boosted its holdings in SpringWorks Therapeutics by 11.6% in the second quarter. E Fund Management Co. Ltd. now owns 9,467 shares of the company’s stock valued at $357,000 after acquiring an additional 981 shares during the last quarter. Finally, Quarry LP increased its position in SpringWorks Therapeutics by 20.0% during the 3rd quarter. Quarry LP now owns 6,000 shares of the company’s stock valued at $192,000 after purchasing an additional 1,000 shares during the period.

SpringWorks Therapeutics Price Performance

SpringWorks Therapeutics stock opened at $36.13 on Thursday. The stock’s fifty day moving average price is $36.46 and its two-hundred day moving average price is $36.27. The firm has a market cap of $2.69 billion, a PE ratio of -9.31 and a beta of 0.86. SpringWorks Therapeutics has a one year low of $28.21 and a one year high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.03. The business had revenue of $49.10 million during 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%. SpringWorks Therapeutics’s revenue for the quarter was up 4810.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.27) earnings per share. Sell-side analysts expect that SpringWorks Therapeutics will post -3.12 earnings per share 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.