Brokerages Set SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Target Price at $69.50

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) have earned a consensus rating of “Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $69.50.

A number of research firms have weighed in on SWTX. JPMorgan Chase & Co. upped their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Wedbush restated an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. HC Wainwright cut their price target on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Evercore ISI assumed coverage on SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective on the stock.

SpringWorks Therapeutics Stock Performance

Shares of SpringWorks Therapeutics stock opened at $36.34 on Thursday. The stock has a market cap of $2.70 billion, a P/E ratio of -9.37 and a beta of 0.86. The stock’s fifty day moving average is $36.06 and its 200 day moving average is $36.31. SpringWorks Therapeutics has a one year low of $28.21 and a one year high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data 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 the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The business’s revenue for the quarter was up 4810.0% compared to the same quarter last year. During the same quarter last year, the company earned ($1.27) earnings per share. Analysts predict that SpringWorks Therapeutics will post -3.12 EPS for the current year.

Insiders Place Their Bets

In other news, COO Badreddin Edris sold 20,000 shares of the company’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 directly owns 209,600 shares of the company’s stock, valued at $8,796,912. This represents a 8.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.61% of the company’s stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

Large investors have recently bought and sold shares of the business. Duquesne Family Office LLC purchased a new position in shares of SpringWorks Therapeutics in the 2nd quarter worth $38,475,000. Maverick Capital Ltd. grew its position in SpringWorks Therapeutics by 36.3% in the second quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock worth $97,962,000 after acquiring an additional 691,894 shares in the last quarter. Principal Financial Group Inc. increased its stake in 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 acquiring an additional 464,903 shares during the last quarter. Fiera Capital Corp raised its position in SpringWorks Therapeutics by 41.4% during the second quarter. Fiera Capital Corp now owns 1,297,302 shares of the company’s stock valued at $48,869,000 after purchasing an additional 380,027 shares during the period. Finally, Candriam S.C.A. lifted its stake in shares of SpringWorks Therapeutics by 160.2% in the 2nd quarter. Candriam S.C.A. now owns 522,104 shares of the company’s stock valued at $19,667,000 after purchasing an additional 321,476 shares during 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.