Analysts Set SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) PT at $70.00

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has earned an average rating of “Buy” from the six analysts that are covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $70.00.

Several equities research analysts have recently issued reports on the company. Guggenheim decreased their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. HC Wainwright lowered their price objective on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Evercore ISI started coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday, January 13th.

Insider Buying and Selling

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the stock in a transaction 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.61% of the stock is owned by insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Several hedge funds have recently bought and sold shares of the company. 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 worth $87,000 after purchasing an additional 474 shares during the last quarter. KBC Group NV grew its stake in SpringWorks Therapeutics by 59.1% in the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after buying an additional 978 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of SpringWorks Therapeutics in the 3rd quarter worth $147,000. Quarry LP raised its position in shares of SpringWorks Therapeutics by 56.3% during the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $188,000 after buying an additional 1,800 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new stake in shares of SpringWorks Therapeutics during the 4th quarter worth $203,000.

SpringWorks Therapeutics Price Performance

Shares of SWTX stock opened at $36.16 on Monday. SpringWorks Therapeutics has a one year low of $28.21 and a one year high of $53.92. The company has a market cap of $2.69 billion, a P/E ratio of -9.32 and a beta of 0.82. The firm has a 50-day moving average of $38.12 and a 200-day moving average of $36.27.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping the consensus estimate 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 net margin of 203.09% and a negative return on equity of 48.21%. The company’s quarterly revenue was up 4810.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.27) EPS. As a group, research analysts expect that SpringWorks Therapeutics will post -3.11 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.