Analysts Set SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Target Price at $70.00

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) has earned a consensus recommendation of "Buy" from the six brokerages that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $70.00.

A number of research analysts have weighed in on the stock. Guggenheim dropped 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 note on Wednesday, January 8th. Wedbush reissued an "outperform" rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, January 13th. HC Wainwright dropped their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating on the stock in a research report on Tuesday, November 12th. Finally, Evercore ISI started coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an "outperform" rating and a $60.00 price target on the stock.

SpringWorks Therapeutics Stock Down 2.7 %

NASDAQ:SWTX traded down $0.96 during trading hours on Monday, reaching $34.63. The company had a trading volume of 1,225,084 shares, compared to its average volume of 1,063,277. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -8.93 and a beta of 0.82. The business's 50-day simple moving average is $38.04 and its two-hundred day simple moving average is $36.33. SpringWorks Therapeutics has a twelve month low of $28.21 and a twelve month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, beating analysts' consensus estimates of ($0.75) by $0.03. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The firm had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. During the same period last year, the firm earned ($1.27) earnings per share. The business's quarterly revenue was up 4810.0% compared to the same quarter last year. As a group, equities analysts predict that SpringWorks Therapeutics will post -3.12 earnings per share for the current year.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total value of $839,400.00. Following the sale, the chief operating officer now 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 sale was disclosed in a legal 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

Several large investors have recently modified their holdings of the business. FMR LLC increased its stake in shares of SpringWorks Therapeutics by 0.3% in 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 in the last quarter. Maverick Capital Ltd. increased its stake in shares of SpringWorks Therapeutics by 6.8% in the third 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 in the last quarter. Geode Capital Management LLC increased its stake in shares of SpringWorks Therapeutics by 7.0% in the third quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company's stock worth $53,526,000 after purchasing an additional 109,189 shares in the last quarter. Duquesne Family Office LLC purchased a new position in shares of SpringWorks Therapeutics in the second quarter worth about $38,475,000. Finally, Principal Financial Group Inc. increased its stake in shares of SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company's stock worth $29,427,000 after purchasing an additional 464,903 shares in the last quarter.

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.