SpringWorks Therapeutics’ (SWTX) “Outperform” Rating Reaffirmed at Wedbush

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a note issued to investors on Monday,RTT News reports. They currently have a $77.00 price objective on the stock. Wedbush’s target price indicates a potential upside of 122.80% from the stock’s previous close. Wedbush also issued estimates for SpringWorks Therapeutics’ Q4 2024 earnings at ($0.76) EPS, FY2024 earnings at ($3.21) EPS, Q1 2025 earnings at ($0.75) EPS, Q2 2025 earnings at ($0.71) EPS, Q3 2025 earnings at ($0.60) EPS, Q4 2025 earnings at ($0.46) EPS, FY2025 earnings at ($2.51) EPS, FY2026 earnings at $0.14 EPS and FY2027 earnings at $3.47 EPS.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price 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. HC Wainwright reduced their price objective on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics has a consensus rating of “Buy” and an average target price of $68.17.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ:SWTX traded down $1.89 during trading on Monday, reaching $34.56. The stock had a trading volume of 1,202,608 shares, compared to its average volume of 997,127. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -8.91 and a beta of 0.79. The firm’s fifty day moving average is $32.70 and its 200 day moving average is $37.00. SpringWorks Therapeutics has a 52 week low of $20.19 and a 52 week high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly 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. The business had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The company’s quarterly revenue was up 4810.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.27) EPS. On average, research analysts forecast that SpringWorks Therapeutics will post -3.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SpringWorks Therapeutics

Large investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. lifted its holdings in SpringWorks Therapeutics by 47.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock worth $45,000 after purchasing an additional 383 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after acquiring an additional 474 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in SpringWorks Therapeutics in the 2nd quarter worth approximately $123,000. CANADA LIFE ASSURANCE Co boosted its holdings in SpringWorks Therapeutics by 20.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock valued at $220,000 after purchasing an additional 754 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of SpringWorks Therapeutics in the 3rd quarter valued at about $147,000.

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.