SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives Average Rating of “Buy” from Analysts

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has earned an average recommendation of “Buy” from the six brokerages that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $69.50.

A number of research firms have weighed in on SWTX. JPMorgan Chase & Co. boosted their price objective on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Evercore ISI began coverage on shares of SpringWorks Therapeutics in a report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective for the company. HC Wainwright reduced their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Wedbush restated an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday, November 18th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SWTX. Profund Advisors LLC lifted its holdings in shares of SpringWorks Therapeutics by 1.3% in the 2nd quarter. Profund Advisors LLC now owns 29,048 shares of the company’s stock worth $1,094,000 after acquiring an additional 362 shares during the last quarter. First Horizon Advisors Inc. raised its position in SpringWorks Therapeutics by 47.9% in the second 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. boosted its position in shares of SpringWorks Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after buying an additional 474 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of SpringWorks Therapeutics by 20.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock valued at $220,000 after buying an additional 754 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of SpringWorks Therapeutics by 1.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company’s stock valued at $1,486,000 after buying an additional 871 shares during the period.

SpringWorks Therapeutics Trading Down 0.6 %

NASDAQ:SWTX opened at $41.48 on Friday. The company has a market cap of $3.09 billion, a P/E ratio of -10.69 and a beta of 0.79. SpringWorks Therapeutics has a twelve month low of $28.00 and a twelve month high of $53.92. The company’s 50-day moving average price is $33.19 and its 200-day moving average price is $36.74.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.03. The business had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The business’s revenue was up 4810.0% on a year-over-year basis. During the same period last year, the company posted ($1.27) EPS. On average, analysts expect that SpringWorks Therapeutics will post -3.12 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.