SpringWorks Therapeutics (NASDAQ:SWTX) Trading Up 8.1% – Should You Buy?

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) were up 8.1% on Friday . The stock traded as high as $39.31 and last traded at $39.23. Approximately 479,566 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 998,040 shares. The stock had previously closed at $36.30.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. HC Wainwright decreased their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their price objective on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Evercore ISI began coverage on shares of SpringWorks Therapeutics in a research note on Wednesday. They issued an “outperform” rating and a $60.00 price objective on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SpringWorks Therapeutics currently has an average rating of “Buy” and a consensus target price of $67.00.

SpringWorks Therapeutics Trading Up 7.5 %

The firm has a market cap of $2.90 billion, a PE ratio of -10.05 and a beta of 0.79. The business has a fifty day moving average price of $32.57 and a 200 day moving average price of $36.89.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.03. The company 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%. SpringWorks Therapeutics’s quarterly revenue was up 4810.0% on a year-over-year basis. During the same period in the previous year, the business posted ($1.27) earnings per share. On average, research analysts expect that SpringWorks Therapeutics, Inc. will post -3.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of SpringWorks Therapeutics by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock worth $53,526,000 after acquiring an additional 109,189 shares in the last quarter. Barclays PLC raised its holdings in SpringWorks Therapeutics by 60.4% during the third quarter. Barclays PLC now owns 155,676 shares of the company’s stock worth $4,987,000 after purchasing an additional 58,645 shares during the last quarter. Main Management ETF Advisors LLC purchased a new stake in SpringWorks Therapeutics during the third quarter worth $746,000. Wellington Management Group LLP grew its holdings in SpringWorks Therapeutics by 5.6% in the third quarter. Wellington Management Group LLP now owns 34,994 shares of the company’s stock valued at $1,121,000 after purchasing an additional 1,853 shares during the last quarter. Finally, Soros Fund Management LLC increased its position in shares of SpringWorks Therapeutics by 45.3% in the third quarter. Soros Fund Management LLC now owns 559,321 shares of the company’s stock valued at $17,921,000 after buying an additional 174,321 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.