Brokerages Set SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Price Target at $69.50

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has earned an average rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $69.50.

Several equities research analysts have issued reports on SWTX shares. Wedbush reissued an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research report on Monday, November 18th. Evercore ISI started coverage on SpringWorks Therapeutics in a research note on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price objective for the company. HC Wainwright lowered their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. raised their price target on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th.

Insider Buying and Selling

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 stock was sold at an average price of $41.97, for a total transaction of $839,400.00. Following the completion of the sale, the chief operating officer now directly owns 209,600 shares in the company, valued at approximately $8,796,912. The trade was a 8.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.61% of the stock is currently owned by insiders.

Institutional Trading of SpringWorks Therapeutics

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in SpringWorks Therapeutics by 102.5% in the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after purchasing an additional 464,903 shares during the last quarter. Exome Asset Management LLC acquired a new position in shares of SpringWorks Therapeutics in the third quarter worth $3,226,000. Geode Capital Management LLC grew its position in shares of SpringWorks Therapeutics by 7.0% during the third quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock worth $53,526,000 after buying an additional 109,189 shares in the last quarter. Barclays PLC grew its holdings in SpringWorks Therapeutics by 60.4% during the 3rd quarter. Barclays PLC now owns 155,676 shares of the company’s stock worth $4,987,000 after acquiring an additional 58,645 shares in the last quarter. Finally, Main Management ETF Advisors LLC purchased a new position in SpringWorks Therapeutics in the third quarter valued at $746,000.

SpringWorks Therapeutics Price Performance

Shares of SWTX stock opened at $36.35 on Thursday. The company has a market cap of $2.70 billion, a PE ratio of -9.37 and a beta of 0.86. The stock’s 50 day simple moving average is $36.06 and its two-hundred day simple moving average is $36.32. SpringWorks Therapeutics has a 1 year low of $28.21 and a 1 year high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping 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 business had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. During the same quarter last year, the firm earned ($1.27) earnings per share. The firm’s quarterly revenue was up 4810.0% compared to the same quarter last year. Equities research analysts expect that SpringWorks Therapeutics will post -3.12 EPS for the current year.

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.