SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives Average Recommendation of "Buy" from Brokerages

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) has earned an average recommendation of "Buy" from the six ratings firms that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $69.50.

Several research firms have issued reports on SWTX. HC Wainwright dropped their price objective on SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Wedbush restated an "outperform" rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Evercore ISI initiated coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an "outperform" rating and a $60.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, September 4th.

Insider Transactions at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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 in the company, valued at approximately $8,796,912. The trade was a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 7.61% of the company's stock.

Hedge Funds Weigh In On SpringWorks Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of SpringWorks Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company's stock valued at $87,000 after buying an additional 474 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in SpringWorks Therapeutics during the second quarter valued at approximately $123,000. Quantbot Technologies LP bought a new stake in SpringWorks Therapeutics during the third quarter worth $147,000. Quarry LP boosted its holdings in shares of SpringWorks Therapeutics by 56.3% in the 2nd quarter. Quarry LP now owns 5,000 shares of the company's stock valued at $188,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Commerce Bank bought a new position in shares of SpringWorks Therapeutics in the 3rd quarter valued at $207,000.

SpringWorks Therapeutics Stock Up 0.9 %

Shares of NASDAQ SWTX traded up $0.33 during trading hours on Thursday, hitting $37.14. The company had a trading volume of 467,050 shares, compared to its average volume of 1,002,552. SpringWorks Therapeutics has a 1-year low of $28.21 and a 1-year high of $53.92. The firm's 50 day moving average is $35.96 and its 200-day moving average is $36.37. The stock has a market capitalization of $2.76 billion, a P/E ratio of -9.57 and a beta of 0.86.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating analysts' consensus estimates of ($0.75) by $0.03. The company had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The company's quarterly revenue was up 4810.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.27) EPS. On average, sell-side analysts predict that SpringWorks Therapeutics will post -3.12 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.