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

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) have earned a consensus rating of “Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Six 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. JPMorgan Chase & Co. boosted their price target on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Wedbush boosted their price target on shares of SpringWorks Therapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Barclays upped their price objective on shares of SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Guggenheim started coverage on shares of SpringWorks Therapeutics in a research note on Monday, February 5th. They issued a “buy” rating and a $75.00 price objective on the stock. Finally, HC Wainwright upped their price objective on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th.

SpringWorks Therapeutics Price Performance

SWTX stock 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 firm has a 50 day simple moving average of $47.61 and a 200 day simple moving average of $37.76. The firm has a market cap of $3.36 billion, a PE ratio of -8.86 and a beta of 0.83.

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

Insiders Place Their Bets

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 15,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 45,212 shares of the company’s stock, valued at $2,265,121.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

Several large investors have recently added to or reduced their stakes in SWTX. TD Asset Management Inc grew its position in SpringWorks Therapeutics by 122.1% in the third quarter. TD Asset Management Inc now owns 138,832 shares of the company’s stock worth $3,210,000 after acquiring an additional 76,316 shares in the last quarter. Assetmark Inc. grew its position in SpringWorks Therapeutics by 15.6% in the third quarter. Assetmark Inc. now owns 10,814 shares of the company’s stock worth $250,000 after acquiring an additional 1,461 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in SpringWorks Therapeutics by 7.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 33,260 shares of the company’s stock worth $769,000 after acquiring an additional 2,400 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in 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 worth $37,000 after acquiring an additional 792 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its position in SpringWorks Therapeutics by 4.7% in the third quarter. Teacher Retirement System of Texas now owns 9,770 shares of the company’s stock worth $226,000 after acquiring an additional 441 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.