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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has received an average rating of “Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have covered the stock in the last year is $68.83.

Several brokerages have recently issued reports on SWTX. HC Wainwright restated a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Friday, May 31st. Wedbush restated an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of SpringWorks Therapeutics in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their target price on SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, Barclays increased their price target on SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, February 29th.

SpringWorks Therapeutics Price Performance

NASDAQ:SWTX opened at $38.55 on Friday. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -7.50 and a beta of 0.80. SpringWorks Therapeutics has a 1 year low of $18.00 and a 1 year high of $53.92. The stock’s 50 day simple moving average is $42.72 and its two-hundred day simple moving average is $42.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.01). The company had revenue of $21.00 million for the quarter, compared to the consensus estimate of $12.07 million. During the same quarter in the previous year, the company earned ($1.18) EPS. The business’s revenue was up 2000.0% compared to the same quarter last year. As a group, analysts anticipate that SpringWorks Therapeutics will post -4.6 EPS for the current year.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. purchased a new position in SpringWorks Therapeutics during the 3rd quarter valued at $953,000. Amalgamated Bank grew its holdings in shares of SpringWorks Therapeutics by 12.4% in the third quarter. Amalgamated Bank now owns 8,861 shares of the company’s stock worth $205,000 after purchasing an additional 977 shares during the last quarter. Swiss National Bank increased its stake in SpringWorks Therapeutics by 0.9% in the 3rd quarter. Swiss National Bank now owns 75,600 shares of the company’s stock worth $1,748,000 after buying an additional 700 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in SpringWorks Therapeutics by 16.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 423,764 shares of the company’s stock valued at $9,797,000 after buying an additional 59,138 shares in the last quarter. Finally, Fiera Capital Corp boosted its position in SpringWorks Therapeutics by 2.9% in the 3rd quarter. Fiera Capital Corp now owns 892,934 shares of the company’s stock valued at $20,645,000 after buying an additional 25,510 shares during the period.

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.