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

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

SWTX has been the topic of a number of analyst reports. Barclays upped their target price on shares of SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. raised their price objective on SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Guggenheim assumed coverage on shares of SpringWorks Therapeutics in a research note on Monday, February 5th. They issued a “buy” rating and a $75.00 target price for the company. Wedbush boosted their price target on shares of SpringWorks Therapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Finally, HC Wainwright upped their price objective on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th.

Insider Activity at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 15,000 shares of SpringWorks Therapeutics stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $50.10, for a total value of $751,500.00. Following the sale, the insider now owns 45,212 shares of the company’s stock, valued at $2,265,121.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of hedge funds have recently modified their holdings of SWTX. China Universal Asset Management Co. Ltd. raised its stake in shares of 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 valued at $37,000 after buying an additional 792 shares during the period. Headlands Technologies LLC purchased a new stake in SpringWorks Therapeutics in the 4th quarter worth about $74,000. Strs Ohio bought a new stake in SpringWorks Therapeutics in the 4th quarter valued at about $102,000. SG Americas Securities LLC purchased a new stake in SpringWorks Therapeutics during the fourth quarter valued at about $157,000. Finally, Financial Security Advisor Inc. bought a new position in SpringWorks Therapeutics during the first quarter worth about $246,000.

SpringWorks Therapeutics Stock Up 7.0 %

NASDAQ SWTX opened at $42.89 on Friday. SpringWorks Therapeutics has a 52 week low of $18.00 and a 52 week high of $53.92. The business has a 50 day moving average price of $47.90 and a 200-day moving average price of $37.39. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -8.34 and a beta of 0.83.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($1.44) EPS for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.20). The business had revenue of $5.45 million for the quarter, compared to analyst estimates of $1.26 million. During the same period in the previous year, the business earned ($1.19) EPS. On average, equities research analysts anticipate that SpringWorks Therapeutics will post -4.71 earnings per share for the current 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.