SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives $69.50 Consensus Price Target from Analysts

by · The Cerbat Gem

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

Several equities research analysts have weighed in on the stock. HC Wainwright decreased their price target 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. Evercore ISI initiated coverage on SpringWorks Therapeutics in a research note on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. upped their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th.

Read Our Latest Research Report on SpringWorks Therapeutics

SpringWorks Therapeutics Price Performance

Shares of SpringWorks Therapeutics stock opened at $36.13 on Thursday. The stock’s 50-day moving average is $36.46 and its 200 day moving average is $36.27. SpringWorks Therapeutics has a one year low of $28.21 and a one year high of $53.92. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -9.31 and a beta of 0.86.

SpringWorks Therapeutics (NASDAQ:SWTX – Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.03. The firm had revenue of $49.10 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 4810.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.27) EPS. On average, sell-side analysts expect that SpringWorks Therapeutics will post -3.12 EPS for the current fiscal year.

Insider Transactions at SpringWorks Therapeutics

In other news, COO Badreddin Edris sold 20,000 shares of the stock in a transaction dated 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 owns 209,600 shares in the company, valued at $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 7.61% of the company’s stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of institutional investors have recently added to or reduced their stakes in SWTX. Profund Advisors LLC lifted its position in shares of 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 period. State of New Jersey Common Pension Fund D boosted its position in 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 purchasing an additional 871 shares during the last quarter. E Fund Management Co. Ltd. grew its stake in SpringWorks Therapeutics by 11.6% in the 2nd quarter. E Fund Management Co. Ltd. now owns 9,467 shares of the company’s stock valued at $357,000 after purchasing an additional 981 shares during the period. Finally, Quarry LP grew its stake in SpringWorks Therapeutics by 20.0% in 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 Company Profile

(Get Free Report

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.

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