Analysts Set SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) PT at $70.83

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) have received 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 price objective among analysts that have issued a report on the stock in the last year is $70.83.

A number of research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Wednesday, February 12th. Wedbush reissued an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research report on Monday, February 10th. Evercore ISI raised their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Guggenheim cut their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th.

Insider Transactions at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 29,750 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.36, for a total value of $1,617,210.00. Following the completion of the sale, the insider now directly owns 50,762 shares in the company, valued at $2,759,422.32. This trade represents a 36.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Saqib Islam sold 48,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the completion of the sale, the chief executive officer now owns 1,002,502 shares of the company’s stock, valued at $53,433,356.60. This trade represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 302,750 shares of company stock valued at $16,139,410 in the last 90 days. Insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

A number of institutional investors have recently bought and sold shares of SWTX. Creative Planning acquired a new stake in SpringWorks Therapeutics in the 3rd quarter worth approximately $254,000. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 valued at $87,000 after acquiring an additional 474 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in SpringWorks Therapeutics by 64.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,285 shares of the company’s stock valued at $458,000 after acquiring an additional 5,582 shares during the period. Principal Financial Group Inc. lifted its stake in SpringWorks Therapeutics by 102.5% during the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after acquiring an additional 464,903 shares during the period. Finally, Assetmark Inc. lifted its stake in SpringWorks Therapeutics by 13.7% during the 3rd quarter. Assetmark Inc. now owns 46,020 shares of the company’s stock valued at $1,474,000 after acquiring an additional 5,546 shares during the period.

SpringWorks Therapeutics Price Performance

Shares of SpringWorks Therapeutics stock opened at $56.30 on Friday. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of -14.51 and a beta of 0.81. The firm’s 50-day moving average is $39.66 and its two-hundred day moving average is $37.02. SpringWorks Therapeutics has a 1 year low of $28.21 and a 1 year high of $60.00.

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.