SpringWorks Therapeutics (NASDAQ:SWTX) Price Target Raised to $65.00

SpringWorks Therapeutics (NASDAQ:SWTX) had its target price hoisted by Evercore ISI from $60.00 to $65.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Guggenheim cut their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wedbush reiterated an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, February 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Wednesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $70.83.

SpringWorks Therapeutics Price Performance

SWTX opened at $57.43 on Wednesday. The business’s 50-day moving average price is $39.03 and its two-hundred day moving average price is $36.71. SpringWorks Therapeutics has a 1 year low of $28.21 and a 1 year high of $60.00. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of -14.80 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $49.10 million during the quarter, compared to analysts’ expectations of $53.28 million. During the same quarter last year, the company posted ($1.27) earnings per share. SpringWorks Therapeutics’s quarterly revenue was up 4810.0% on a year-over-year basis. Sell-side analysts anticipate that SpringWorks Therapeutics will post -3.03 earnings per share for the current fiscal year.

Insider Transactions at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 20,000 shares of the stock in a transaction 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 $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel Lynch sold 175,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.46, for a total value of $9,530,500.00. Following the completion of the sale, the director now owns 130,944 shares of the company’s stock, valued at $7,131,210.24. The trade was a 57.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 302,750 shares of company stock worth $16,139,410. Corporate insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

Institutional investors have recently bought and sold shares of the company. Alpha DNA Investment Management LLC bought a new stake in SpringWorks Therapeutics during the third quarter valued at $411,000. Ally Bridge Group NY LLC bought a new stake in SpringWorks Therapeutics during the third quarter valued at $7,296,000. AMI Asset Management Corp bought a new position in shares of SpringWorks Therapeutics during the 4th quarter worth about $1,438,000. Los Angeles Capital Management LLC boosted its position in shares of SpringWorks Therapeutics by 238.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock worth $1,513,000 after purchasing an additional 33,255 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of SpringWorks Therapeutics by 13.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 602,227 shares of the company’s stock worth $19,295,000 after purchasing an additional 73,613 shares in the last quarter.

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.