JPMorgan Chase & Co. Increases SpringWorks Therapeutics (NASDAQ:SWTX) Price Target to $68.00

SpringWorks Therapeutics (NASDAQ:SWTX) had its price target increased by JPMorgan Chase & Co. from $64.00 to $68.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

SWTX has been the topic of several other research reports. Wedbush reaffirmed an outperform rating and set a $77.00 target price (up previously from $75.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. HC Wainwright reaffirmed a buy rating and set a $76.00 target price on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $68.50.

SpringWorks Therapeutics Stock Down 3.4 %

Shares of NASDAQ:SWTX opened at $38.75 on Wednesday. SpringWorks Therapeutics has a 52-week low of $18.00 and a 52-week high of $53.92. The stock has a market cap of $2.88 billion, a P/E ratio of -7.54 and a beta of 0.79. The business’s 50 day moving average is $38.19 and its 200 day moving average is $42.23.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.12) by $0.58. The firm had revenue of $59.73 million during the quarter, compared to the consensus estimate of $34.42 million. The firm’s revenue for the quarter was up 59732900.0% compared to the same quarter last year. During the same period last year, the company earned ($1.25) EPS. On average, sell-side analysts anticipate that SpringWorks Therapeutics will post -3.34 EPS for the current fiscal year.

Institutional Trading of SpringWorks Therapeutics

Institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. boosted its position 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 worth $45,000 after purchasing an additional 383 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of SpringWorks Therapeutics in the 2nd quarter worth $123,000. Quarry LP boosted its position in shares of SpringWorks Therapeutics by 56.3% in the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $188,000 after purchasing an additional 1,800 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of SpringWorks Therapeutics by 20.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock worth $220,000 after purchasing an additional 754 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of SpringWorks Therapeutics by 8.3% in the 1st quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock worth $230,000 after purchasing an additional 358 shares in 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.