SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Given Consensus Recommendation of “Buy” by Brokerages

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has earned a consensus rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have covered the stock in the last year is $68.83.

Several equities research analysts recently weighed in on SWTX shares. Wedbush reaffirmed an “outperform” rating and issued a $75.00 price target (up from $70.00) on shares of SpringWorks Therapeutics in a research note on Thursday, May 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, May 31st.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of SpringWorks Therapeutics by 8.2% during the first quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company’s stock valued at $321,373,000 after buying an additional 492,783 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of SpringWorks Therapeutics by 48.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock valued at $202,318,000 after buying an additional 1,333,892 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of SpringWorks Therapeutics during the first quarter valued at $114,083,000. Point72 Asset Management L.P. boosted its position in shares of SpringWorks Therapeutics by 310.7% during the fourth quarter. Point72 Asset Management L.P. now owns 2,162,176 shares of the company’s stock valued at $78,919,000 after buying an additional 1,635,722 shares during the last quarter. Finally, Perceptive Advisors LLC boosted its position in shares of SpringWorks Therapeutics by 28.7% during the fourth quarter. Perceptive Advisors LLC now owns 1,957,246 shares of the company’s stock valued at $71,439,000 after buying an additional 436,830 shares during the last quarter.

SpringWorks Therapeutics Stock Down 5.2 %

Shares of SWTX stock opened at $33.43 on Monday. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -6.50 and a beta of 0.78. The business’s fifty day moving average is $38.32 and its 200 day moving average is $43.39. SpringWorks Therapeutics has a twelve month low of $18.00 and a twelve month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.01). The company had revenue of $21.00 million during the quarter, compared to the consensus estimate of $12.07 million. The firm’s revenue for the quarter was up 2000.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.18) earnings per share. Equities research analysts expect that SpringWorks Therapeutics will post -4.62 earnings per share for the current fiscal year.

About SpringWorks Therapeutics

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.