SpringWorks Therapeutics (NASDAQ:SWTX) Sets New 1-Year High – Time to Buy?

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) hit a new 52-week high on Thursday . The stock traded as high as $61.11 and last traded at $60.16, with a volume of 538568 shares changing hands. The stock had previously closed at $55.73.

Analysts Set New Price Targets

Several research firms have recently weighed in on SWTX. Evercore ISI increased their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. HC Wainwright reiterated a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Wednesday, February 12th. Wedbush restated an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research report on Monday, February 10th. Finally, Guggenheim decreased their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $70.83.

SpringWorks Therapeutics Stock Up 7.2 %

The stock has a market cap of $4.44 billion, a price-to-earnings ratio of -15.21 and a beta of 0.81. The business’s fifty day moving average is $40.27 and its two-hundred day moving average is $37.31.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. As a group, sell-side analysts expect that SpringWorks Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Insider Activity

In other news, Director Daniel Lynch sold 175,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.46, for a total value of $9,530,500.00. Following the completion of the sale, the director now directly owns 130,944 shares of the company’s stock, valued at approximately $7,131,210.24. The trade was a 57.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Saqib Islam sold 10,672 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $59.92, for a total value of $639,466.24. Following the transaction, the chief executive officer now owns 1,063,953 shares in the company, valued at $63,752,063.76. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,822 shares of company stock worth $16,802,876. 7.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SpringWorks Therapeutics

Large investors have recently modified their holdings of the company. Creative Planning purchased a new stake in SpringWorks Therapeutics in the 3rd quarter valued at $254,000. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 valued at $87,000 after purchasing an additional 474 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of SpringWorks Therapeutics by 64.1% in the third 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 during the last quarter. Principal Financial Group Inc. boosted its stake in shares of SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after buying an additional 464,903 shares during the period. Finally, Assetmark Inc. grew its holdings in shares of SpringWorks Therapeutics by 13.7% during the third quarter. Assetmark Inc. now owns 46,020 shares of the company’s stock worth $1,474,000 after buying an additional 5,546 shares during the last quarter.

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.