SpringWorks Therapeutics (NASDAQ:SWTX) Stock Price Up 4.3% – Should You Buy?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)’s share price shot up 4.3% during trading on Thursday . The company traded as high as $35.39 and last traded at $34.93. 79,383 shares were traded during mid-day trading, a decline of 96% from the average session volume of 2,078,942 shares. The stock had previously closed at $33.48.

Analysts Set New Price Targets

Several analysts recently commented on SWTX shares. HC Wainwright reduced their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Evercore ISI began coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday, January 13th. Finally, Guggenheim lowered their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $70.00.

SpringWorks Therapeutics Price Performance

The stock’s 50-day moving average is $38.04 and its 200 day moving average is $36.35. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -8.93 and a beta of 0.82.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results 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 return on equity of 48.21% and a negative net margin of 203.09%. The firm had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. During the same period in the previous year, the business earned ($1.27) earnings per share. The company’s revenue for the quarter was up 4810.0% compared to the same quarter last year. Analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current year.

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics 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 transaction of $839,400.00. Following the sale, the chief operating officer now 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 7.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SWTX. Oppenheimer Asset Management Inc. grew its holdings in shares of SpringWorks Therapeutics by 40.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 13,568 shares of the company’s stock worth $511,000 after buying an additional 3,892 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in SpringWorks Therapeutics by 56.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 112,426 shares of the company’s stock valued at $4,235,000 after acquiring an additional 40,781 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of SpringWorks Therapeutics by 14.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 535,083 shares of the company’s stock worth $20,157,000 after purchasing an additional 69,227 shares during the period. Mutual of America Capital Management LLC boosted its holdings in shares of SpringWorks Therapeutics by 41.4% during the second quarter. Mutual of America Capital Management LLC now owns 116,915 shares of the company’s stock worth $4,404,000 after purchasing an additional 34,260 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in SpringWorks Therapeutics in the second quarter valued at $621,000.

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.