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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has earned a consensus rating of “Buy” from the six analysts that are covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $68.00.

SWTX has been the topic of a number of recent analyst reports. Wedbush boosted their target price on shares of SpringWorks Therapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. HC Wainwright boosted their target price on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Barclays boosted their target price on shares of SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Guggenheim assumed coverage on shares of SpringWorks Therapeutics in a report on Monday, February 5th. They set a “buy” rating and a $75.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th.

SpringWorks Therapeutics Stock Up 3.0 %

NASDAQ SWTX opened at $45.53 on Friday. SpringWorks Therapeutics has a 12-month low of $18.00 and a 12-month high of $53.92. The company has a market capitalization of $3.36 billion, a PE ratio of -8.86 and a beta of 0.83. The firm’s 50 day moving average is $47.61 and its 200-day moving average is $37.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Tuesday, February 27th. The company reported ($1.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.20). The company had revenue of $5.45 million for the quarter, compared to analyst estimates of $1.26 million. During the same quarter last year, the firm posted ($1.19) EPS. As a group, sell-side analysts expect that SpringWorks Therapeutics will post -4.71 EPS for the current year.

Insiders Place Their Bets

In other news, insider Daniel Pichl sold 15,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $50.10, for a total value of $751,500.00. Following the completion of the sale, the insider now owns 45,212 shares of the company’s stock, valued at $2,265,121.20. 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

Institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. boosted its position in shares of SpringWorks Therapeutics by 96.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,612 shares of the company’s stock valued at $37,000 after acquiring an additional 792 shares during the period. Headlands Technologies LLC bought a new stake in SpringWorks Therapeutics during the fourth quarter worth about $74,000. Strs Ohio bought a new stake in SpringWorks Therapeutics during the fourth quarter worth about $102,000. SG Americas Securities LLC bought a new stake in SpringWorks Therapeutics during the fourth quarter worth about $157,000. Finally, Exchange Traded Concepts LLC raised its stake in SpringWorks Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,323 shares of the company’s stock worth $194,000 after acquiring an additional 1,350 shares in the last quarter.

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.