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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has been assigned a consensus rating of “Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $70.83.

Several equities research analysts have commented on the stock. Evercore ISI increased their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday. Wedbush reiterated an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday. HC Wainwright reiterated a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday. Finally, Guggenheim decreased their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th.

Insider Transactions at SpringWorks Therapeutics

In other news, Director Daniel Lynch sold 175,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the completion of the sale, the director now owns 130,944 shares in the company, valued at $7,131,210.24. This trade represents a 57.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Badreddin Edris sold 20,000 shares of the firm’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 sale, the chief operating officer now owns 209,600 shares of the company’s stock, valued at approximately $8,796,912. The trade was a 8.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 302,750 shares of company stock worth $16,139,410 in the last quarter. Insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SWTX. Creative Planning purchased a new position in SpringWorks Therapeutics in the 3rd quarter valued at approximately $254,000. Mirae Asset Global Investments Co. Ltd. grew its stake in SpringWorks Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after buying an additional 474 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in SpringWorks Therapeutics by 64.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,285 shares of the company’s stock valued at $458,000 after buying an additional 5,582 shares in the last quarter. Principal Financial Group Inc. grew its stake 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 buying an additional 464,903 shares in the last quarter. Finally, Assetmark Inc. grew its stake in SpringWorks Therapeutics by 13.7% in the 3rd quarter. Assetmark Inc. now owns 46,020 shares of the company’s stock valued at $1,474,000 after buying an additional 5,546 shares in the last quarter.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ SWTX opened at $58.59 on Friday. SpringWorks Therapeutics has a fifty-two week low of $28.21 and a fifty-two week high of $60.00. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of -15.10 and a beta of 0.81. The firm’s 50-day simple moving average is $38.69 and its 200 day simple moving average is $36.56.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.03. The business 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 firm’s revenue for the quarter was up 4810.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.27) EPS. On average, sell-side analysts predict that SpringWorks Therapeutics will post -3.03 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.