Analysts Set SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Price Target at $68.00

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has been given an average recommendation of “Buy” by the six brokerages that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have covered the stock in the last year is $68.00.

SWTX has been the topic of a number of research analyst reports. 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 research note on Monday, February 26th. JPMorgan Chase & Co. boosted their price target on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Guggenheim assumed coverage on shares of SpringWorks Therapeutics in a report on Monday, February 5th. They set a “buy” rating and a $75.00 price target for the company. HC Wainwright upped their target price on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Barclays upped their target price on shares of SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, February 29th.

Insider Activity

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $50.10, for a total transaction of $751,500.00. Following the sale, the insider now directly owns 45,212 shares of the company’s stock, valued at approximately $2,265,121.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.43% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

A number of hedge funds have recently made changes to their positions in SWTX. Teacher Retirement System of Texas boosted its holdings 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 purchasing an additional 441 shares during the period. Royal Bank of Canada raised its position in SpringWorks Therapeutics by 1.8% in the first quarter. Royal Bank of Canada now owns 26,465 shares of the company’s stock worth $1,494,000 after acquiring an additional 479 shares in the last quarter. Sei Investments Co. raised its holdings in SpringWorks Therapeutics by 4.0% during the 2nd quarter. Sei Investments Co. now owns 14,198 shares of the company’s stock worth $372,000 after buying an additional 549 shares during the period. American International Group Inc. raised its holdings in SpringWorks Therapeutics by 3.4% during the 4th quarter. American International Group Inc. now owns 17,036 shares of the company’s stock worth $443,000 after buying an additional 553 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in SpringWorks Therapeutics by 4.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 14,401 shares of the company’s stock valued at $411,000 after acquiring an additional 558 shares in the last quarter.

SpringWorks Therapeutics Trading Down 1.8 %

SWTX opened at $49.22 on Tuesday. The firm has a market capitalization of $3.63 billion, a PE ratio of -9.72 and a beta of 0.83. The firm’s 50-day moving average price is $47.70 and its 200 day moving average price is $34.80. SpringWorks Therapeutics has a twelve month low of $18.00 and a twelve month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its earnings results on Tuesday, February 27th. The company reported ($1.44) earnings per share for the quarter, missing the consensus estimate of ($1.24) by ($0.20). The business had revenue of $5.45 million for the quarter, compared to the consensus estimate of $1.26 million. During the same quarter last year, the firm earned ($1.19) EPS. As a group, analysts predict that SpringWorks Therapeutics will post -4.71 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.