SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives $68.50 Average Price Target from Brokerages

by · The Cerbat Gem

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX – Get Free Report) has been given an average rating of “Buy” by the six research firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $68.50.

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. HC Wainwright restated a “buy” rating and set a $76.00 target price on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $77.00 price target (up previously from $75.00) on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th.

View Our Latest Research Report on SWTX

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors have recently modified their holdings of the company. Lord Abbett & CO. LLC purchased a new stake in SpringWorks Therapeutics in the 1st quarter worth approximately $114,083,000. Price T Rowe Associates Inc. MD lifted its stake in shares of SpringWorks Therapeutics by 48.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock worth $202,318,000 after purchasing an additional 1,333,892 shares during the period. Vanguard Group Inc. boosted its holdings in shares of SpringWorks Therapeutics by 22.6% during the fourth quarter. Vanguard Group Inc. now owns 6,036,542 shares of the company’s stock worth $220,334,000 after purchasing an additional 1,114,080 shares during the last quarter. Duquesne Family Office LLC purchased a new stake in shares of SpringWorks Therapeutics in the second quarter valued at $38,475,000. Finally, Maverick Capital Ltd. increased its stake in SpringWorks Therapeutics by 36.3% in the second quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock valued at $97,962,000 after purchasing an additional 691,894 shares during the last quarter.

SpringWorks Therapeutics Stock Down 1.2 %

NASDAQ:SWTX opened at $30.12 on Friday. The firm’s fifty day simple moving average is $36.00 and its 200-day simple moving average is $39.00. The stock has a market cap of $2.23 billion, a PE ratio of -5.86 and a beta of 0.78. SpringWorks Therapeutics has a fifty-two week low of $18.00 and a fifty-two week high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX – Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.58. The company had revenue of $59.73 million during the quarter, compared to analysts’ expectations of $34.42 million. The company’s quarterly revenue was up 59732900.0% on a year-over-year basis. During the same period last year, the business posted ($1.25) earnings per share. Equities analysts anticipate that SpringWorks Therapeutics will post -3.36 earnings per share for the current year.

SpringWorks Therapeutics Company Profile

(Get Free Report

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.

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