SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) has earned a consensus rating of "Buy" from the six analysts that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $69.50.
A number of analysts have recently weighed in on the stock. Evercore ISI began coverage on shares of SpringWorks Therapeutics in a report on Wednesday, November 20th. They set an "outperform" rating and a $60.00 price target for the company. HC Wainwright reduced their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. Wedbush reissued an "outperform" rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. upped their price objective on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 4th.
Check Out Our Latest Analysis on SpringWorks Therapeutics
In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the company'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 transaction, the chief operating officer now directly owns 209,600 shares in the company, valued at approximately $8,796,912. This represents a 8.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.61% of the company's stock.
Hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company's stock worth $87,000 after buying an additional 474 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of SpringWorks Therapeutics during the second quarter worth about $123,000. Quantbot Technologies LP acquired a new position in shares of SpringWorks Therapeutics in the third quarter worth approximately $147,000. Quarry LP boosted its holdings in SpringWorks Therapeutics by 56.3% in the second quarter. Quarry LP now owns 5,000 shares of the company's stock valued at $188,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Commerce Bank acquired a new stake in SpringWorks Therapeutics during the 3rd quarter valued at approximately $207,000.
Shares of NASDAQ:SWTX opened at $36.81 on Thursday. The company has a market capitalization of $2.74 billion, a P/E ratio of -9.49 and a beta of 0.86. The business's 50 day simple moving average is $35.83 and its 200 day simple moving average is $36.36. SpringWorks Therapeutics has a 1 year low of $28.21 and a 1 year high of $53.92.
SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.03. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The company had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. During the same period in the prior year, the firm posted ($1.27) EPS. SpringWorks Therapeutics's quarterly revenue was up 4810.0% on a year-over-year basis. On average, sell-side analysts anticipate that SpringWorks Therapeutics will post -3.12 EPS for the current fiscal year.
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.
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