SpringWorks Therapeutics (NASDAQ:SWTX) Given Outperform Rating at Wedbush

by · The Cerbat Gem

SpringWorks Therapeutics (NASDAQ:SWTX – Get Free Report)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a report released on Thursday,RTT News reports. They presently have a $77.00 price target on the stock. Wedbush’s price objective would suggest a potential upside of 132.70% from the company’s current price.

Several other analysts also recently issued reports on SWTX. HC Wainwright reaffirmed a “buy” rating and issued a $76.00 price objective on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $68.50.

Check Out Our Latest Report on SWTX

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ:SWTX traded up $0.09 during midday trading on Thursday, hitting $33.09. 935,300 shares of the company’s stock traded hands, compared to its average volume of 952,329. SpringWorks Therapeutics has a twelve month low of $18.00 and a twelve month high of $53.92. The company has a market cap of $2.46 billion, a PE ratio of -7.47 and a beta of 0.79. The firm’s fifty day moving average price is $33.57 and its two-hundred day moving average price is $37.57.

SpringWorks Therapeutics (NASDAQ:SWTX – Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate 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. SpringWorks Therapeutics’s quarterly revenue was up 59732900.0% on a year-over-year basis. During the same period in the previous year, the company earned ($1.25) EPS. As a group, equities research analysts anticipate that SpringWorks Therapeutics will post -3.36 EPS for the current fiscal year.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of hedge funds have recently bought and sold shares of SWTX. First Horizon Advisors Inc. lifted its stake in SpringWorks Therapeutics by 47.9% during the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock worth $45,000 after purchasing an additional 383 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of SpringWorks Therapeutics by 21.4% in the 3rd 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. Allspring Global Investments Holdings LLC bought a new stake in shares of SpringWorks Therapeutics during the 2nd quarter valued at about $123,000. Quarry LP raised its stake in SpringWorks Therapeutics by 56.3% during the second quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $188,000 after acquiring an additional 1,800 shares during the period. Finally, GSA Capital Partners LLP bought a new position in SpringWorks Therapeutics in the third quarter worth about $209,000.

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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