The Goldman Sachs Group Increases SpringWorks Therapeutics (NASDAQ:SWTX) Price Target to $123.00

SpringWorks Therapeutics (NASDAQ:SWTX) had its target price boosted by analysts at The Goldman Sachs Group from $107.00 to $123.00 in a note issued to investors on Tuesday, The Fly reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 48.09% from the company’s current price.

Separately, Zacks Investment Research raised SpringWorks Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, July 15th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $99.50.

NASDAQ:SWTX opened at $83.06 on Tuesday. The stock has a fifty day simple moving average of $80.56. SpringWorks Therapeutics has a 1 year low of $35.20 and a 1 year high of $96.48. The company has a market capitalization of $4.08 billion, a PE ratio of -61.07 and a beta of 0.69.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Thursday, May 6th. The company reported ($0.62) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.11). On average, research analysts expect that SpringWorks Therapeutics will post -2.72 earnings per share for the current fiscal year.

In other news, COO Badreddin Edris sold 32,000 shares of the stock in a transaction dated Thursday, July 1st. The stock was sold at an average price of $85.35, for a total transaction of $2,731,200.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Saqib Islam sold 43,928 shares of the stock in a transaction dated Monday, July 19th. The shares were sold at an average price of $76.09, for a total value of $3,342,481.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,485 shares of company stock worth $9,823,688. Insiders own 30.76% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can grew its holdings in SpringWorks Therapeutics by 44.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,303 shares of the company’s stock valued at $95,000 after buying an additional 398 shares during the last quarter. Alliancebernstein L.P. grew its holdings in SpringWorks Therapeutics by 1.8% in the 1st quarter. Alliancebernstein L.P. now owns 34,200 shares of the company’s stock valued at $2,516,000 after buying an additional 600 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in SpringWorks Therapeutics in the 1st quarter valued at approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of SpringWorks Therapeutics in the 1st quarter worth approximately $60,000. Finally, HighVista Strategies LLC lifted its position in shares of SpringWorks Therapeutics by 8.1% in the 4th quarter. HighVista Strategies LLC now owns 12,412 shares of the company’s stock worth $900,000 after acquiring an additional 935 shares during the period. 88.50% of the stock is currently owned by hedge funds and other institutional investors.

SpringWorks Therapeutics Company Profile

SpringWorks Therapeutics, Inc acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase 3 clinical trials for the treatment of desmoid tumors.

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