ValuEngine Downgrades SpringWorks Therapeutics (NASDAQ:SWTX) to Hold

SpringWorks Therapeutics (NASDAQ:SWTX) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday, ValuEngine reports.

Several other research firms also recently weighed in on SWTX. HC Wainwright reissued a “buy” rating and set a $58.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday, August 6th. Barclays reissued a “buy” rating on shares of SpringWorks Therapeutics in a research report on Thursday, August 13th. Finally, Wedbush reissued a “buy” rating on shares of SpringWorks Therapeutics in a research report on Monday, August 17th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $44.33.

NASDAQ SWTX opened at $47.23 on Tuesday. SpringWorks Therapeutics has a 1-year low of $17.02 and a 1-year high of $49.79. The company has a market capitalization of $2.03 billion and a P/E ratio of -15.74. The business has a 50 day moving average price of $43.06 and a 200 day moving average price of $36.82.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.11). Equities research analysts anticipate that SpringWorks Therapeutics will post -1.87 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of SWTX. BlackRock Inc. boosted its holdings in shares of SpringWorks Therapeutics by 2.8% during the first quarter. BlackRock Inc. now owns 659,095 shares of the company’s stock worth $17,795,000 after purchasing an additional 18,134 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of SpringWorks Therapeutics during the first quarter worth $132,000. Rhumbline Advisers boosted its holdings in shares of SpringWorks Therapeutics by 30.0% during the first quarter. Rhumbline Advisers now owns 12,252 shares of the company’s stock worth $331,000 after purchasing an additional 2,826 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of SpringWorks Therapeutics by 50.5% during the first quarter. Bank of New York Mellon Corp now owns 39,260 shares of the company’s stock worth $1,060,000 after purchasing an additional 13,179 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of SpringWorks Therapeutics by 19.4% during the first quarter. State Street Corp now owns 173,419 shares of the company’s stock worth $4,682,000 after purchasing an additional 28,166 shares during the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

About SpringWorks Therapeutics

SpringWorks Therapeutics, Inc, a clinical-stage biopharmaceutical company, acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its advanced product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase 3 clinical trials for the treatment of desmoid tumors.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SpringWorks Therapeutics (NASDAQ:SWTX)

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