SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives Consensus Rating of “Buy” from Brokerages

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) have received a consensus rating of “Buy” from the six research firms that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $71.50.

A number of equities research analysts recently issued reports on the company. Evercore ISI lifted their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Guggenheim cut their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Wedbush reaffirmed an “outperform” rating and issued a $81.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday. Finally, HC Wainwright reissued a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Wednesday, February 12th.

Insider Buying and Selling

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 29,750 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the transaction, the insider now owns 50,762 shares of the company’s stock, valued at $2,759,422.32. The trade was a 36.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Badreddin Edris sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the sale, the chief operating officer now directly owns 209,600 shares of the company’s stock, valued at approximately $8,796,912. The trade was a 8.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 313,822 shares of company stock worth $16,802,876. Insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FMR LLC boosted its position in SpringWorks Therapeutics by 0.3% during the third quarter. FMR LLC now owns 11,140,946 shares of the company’s stock worth $356,956,000 after purchasing an additional 28,555 shares during the period. Vanguard Group Inc. boosted its holdings in shares of SpringWorks Therapeutics by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock worth $258,650,000 after buying an additional 445,593 shares during the period. Boxer Capital Management LLC acquired a new position in shares of SpringWorks Therapeutics in the fourth quarter valued at approximately $123,620,000. Maverick Capital Ltd. lifted its holdings in SpringWorks Therapeutics by 6.8% during the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock worth $89,018,000 after purchasing an additional 177,824 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in SpringWorks Therapeutics by 24.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock valued at $86,402,000 after purchasing an additional 465,494 shares during the period.

SpringWorks Therapeutics Stock Up 7.5 %

SpringWorks Therapeutics stock opened at $59.93 on Friday. The company has a 50 day moving average of $40.70 and a 200-day moving average of $37.47. SpringWorks Therapeutics has a twelve month low of $28.21 and a twelve month high of $62.00. The stock has a market capitalization of $4.46 billion, a PE ratio of -15.45 and a beta of 0.81.

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

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.