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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has received a consensus rating of “Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $69.50.

Several equities analysts have recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. HC Wainwright decreased their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. increased their price objective on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Finally, Evercore ISI assumed coverage on shares of SpringWorks Therapeutics in a report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective on the stock.

Institutional Trading of SpringWorks Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Duquesne Family Office LLC acquired a new position in shares of SpringWorks Therapeutics in the 2nd quarter valued at $38,475,000. Maverick Capital Ltd. boosted its stake in SpringWorks Therapeutics by 36.3% in the second quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock valued at $97,962,000 after acquiring an additional 691,894 shares in the last quarter. Principal Financial Group Inc. boosted its stake in SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after acquiring an additional 464,903 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of SpringWorks Therapeutics by 41.4% during the second quarter. Fiera Capital Corp now owns 1,297,302 shares of the company’s stock worth $48,869,000 after purchasing an additional 380,027 shares during the last quarter. Finally, Candriam S.C.A. increased its position in shares of SpringWorks Therapeutics by 160.2% during the second quarter. Candriam S.C.A. now owns 522,104 shares of the company’s stock worth $19,667,000 after purchasing an additional 321,476 shares in the last quarter.

SpringWorks Therapeutics Stock Down 0.6 %

SpringWorks Therapeutics stock opened at $41.48 on Friday. The company’s 50 day moving average is $33.19 and its two-hundred day moving average is $36.74. The firm has a market cap of $3.09 billion, a PE ratio of -10.69 and a beta of 0.79. SpringWorks Therapeutics has a 52-week low of $28.00 and a 52-week high of $53.92.

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