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

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) have received an average rating of “Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have covered the stock in the last year is $68.50.

Several brokerages have commented on SWTX. Wedbush reissued an “outperform” rating and issued a $77.00 price target (up previously from $75.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. HC Wainwright reissued a “buy” rating and set a $76.00 target price on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. increased 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.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several large investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC purchased a new position in SpringWorks Therapeutics in the 1st quarter valued at $114,083,000. Price T Rowe Associates Inc. MD increased its stake 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 worth $202,318,000 after acquiring an additional 1,333,892 shares during the period. Vanguard Group Inc. raised its holdings in 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 in the last quarter. Duquesne Family Office LLC acquired a new stake in SpringWorks Therapeutics in the second quarter valued at about $38,475,000. Finally, Maverick Capital Ltd. boosted its holdings in SpringWorks Therapeutics by 36.3% in the 2nd 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 in the last quarter.

SpringWorks Therapeutics Trading Down 1.2 %

Shares of NASDAQ SWTX opened at $30.12 on Friday. The stock has a market capitalization of $2.23 billion, a PE ratio of -5.86 and a beta of 0.78. SpringWorks Therapeutics has a twelve month low of $18.00 and a twelve month high of $53.92. The stock has a fifty day simple moving average of $36.00 and a 200-day simple moving average of $39.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings results 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 business had revenue of $59.73 million for the quarter, compared to analyst estimates 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 in the prior year, the company posted ($1.25) EPS. On average, equities analysts predict that SpringWorks Therapeutics will post -3.36 earnings per share for the current year.

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.