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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has been given an average recommendation of “Buy” by the six analysts that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $68.83.

A number of brokerages have recently issued reports on SWTX. Wedbush reaffirmed an “outperform” rating and set a $75.00 price target (up previously from $70.00) on shares of SpringWorks Therapeutics in a report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their target price on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. HC Wainwright reissued a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a report on Monday, May 6th. Barclays lifted their price objective on SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Guggenheim started coverage on SpringWorks Therapeutics in a research report on Monday, February 5th. They issued a “buy” rating and a $75.00 target price on the stock.

SpringWorks Therapeutics Stock Up 3.7 %

Shares of SWTX opened at $42.95 on Wednesday. The company has a market capitalization of $3.18 billion, a P/E ratio of -8.36 and a beta of 0.84. SpringWorks Therapeutics has a twelve month low of $18.00 and a twelve month high of $53.92. The firm has a 50 day moving average of $46.42 and a 200 day moving average of $39.64.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.01). The firm had revenue of $21.00 million during the quarter, compared to analysts’ expectations of $12.07 million. During the same period in the prior year, the company earned ($1.18) EPS. SpringWorks Therapeutics’s revenue was up 2000.0% on a year-over-year basis. On average, sell-side analysts expect that SpringWorks Therapeutics will post -4.8 EPS for the current year.

Insider Transactions at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 15,000 shares of SpringWorks Therapeutics stock in a transaction on Friday, February 16th. The stock was sold at an average price of $50.10, for a total transaction of $751,500.00. Following the transaction, the insider now directly owns 45,212 shares in the company, valued at $2,265,121.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. TD Asset Management Inc increased its holdings in SpringWorks Therapeutics by 122.1% in the 3rd 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. increased its stake in shares of 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 purchasing an additional 1,461 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of SpringWorks Therapeutics by 96.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,612 shares of the company’s stock valued at $37,000 after purchasing an additional 792 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of SpringWorks Therapeutics by 4.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 9,770 shares of the company’s stock valued at $226,000 after buying an additional 441 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in SpringWorks Therapeutics in the 3rd quarter worth $953,000.

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.