Wedbush Reiterates Outperform Rating for SpringWorks Therapeutics (NASDAQ:SWTX)

by · The Markets Daily

Wedbush restated their outperform rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX – Free Report) in a report issued on Thursday,RTT News reports. They currently have a $77.00 price target on the stock.

Several other research analysts have also issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $76.00 target price on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. JPMorgan Chase & Co. increased 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $68.50.

View Our Latest Analysis on SWTX

SpringWorks Therapeutics Trading Up 2.8 %

Shares of NASDAQ:SWTX traded up $0.91 during mid-day trading on Thursday, reaching $34.00. The company had a trading volume of 559,034 shares, compared to its average volume of 950,529. The company’s 50-day moving average price is $33.57 and its 200-day moving average price is $37.57. SpringWorks Therapeutics has a one year low of $18.00 and a one year 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 business had revenue of $59.73 million for the quarter, compared to the consensus estimate of $34.42 million. During the same period in the previous year, the firm earned ($1.25) EPS. The company’s revenue was up 59732900.0% compared to the same quarter last year. Sell-side analysts expect that SpringWorks Therapeutics will post -3.36 earnings per share for the current year.

Institutional Trading of SpringWorks Therapeutics

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