SpringWorks Therapeutics (NASDAQ:SWTX) Hits New 52-Week High – Should You Buy?

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) hit a new 52-week high on Tuesday . The company traded as high as $60.00 and last traded at $54.00, with a volume of 15996095 shares changing hands. The stock had previously closed at $40.28.

Analysts Set New Price Targets

Several brokerages have commented on SWTX. Evercore ISI lifted their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Wednesday. Guggenheim lowered their price target on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $70.83.

SpringWorks Therapeutics Trading Up 7.5 %

The firm’s 50-day moving average price is $38.35 and its 200 day moving average price is $36.40.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. During the same period in the prior year, the company posted ($1.27) earnings per share. SpringWorks Therapeutics’s quarterly revenue was up 4810.0% on a year-over-year basis. Research analysts expect that SpringWorks Therapeutics, Inc. will post -3.03 earnings per share 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 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 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Saqib Islam sold 48,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $53.30, for a total value of $2,558,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,002,502 shares of the company’s stock, valued at $53,433,356.60. The trade was a 4.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 302,750 shares of company stock valued at $16,139,410 in the last three months. Company insiders own 7.61% of the company’s stock.

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Huntington National Bank boosted its holdings in shares of SpringWorks Therapeutics by 38.2% during the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after purchasing an additional 192 shares during the last quarter. AlphaQuest LLC grew its position in shares of SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after buying an additional 414 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in SpringWorks Therapeutics by 21.4% during the third 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 during the period. State of New Jersey Common Pension Fund D raised its holdings in SpringWorks Therapeutics by 1.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company’s stock worth $1,486,000 after purchasing an additional 871 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of SpringWorks Therapeutics by 59.1% during the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock valued at $95,000 after purchasing an additional 978 shares during 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.