SpringWorks Therapeutics (NASDAQ:SWTX) Now Covered by Evercore ISI

Evercore ISI began coverage on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research note published on Wednesday, MarketBeat reports. The firm issued an outperform rating and a $60.00 target price on the stock.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. increased their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Wedbush reissued an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday. Finally, HC Wainwright lowered their price target on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $67.00.

SpringWorks Therapeutics Stock Down 1.3 %

Shares of NASDAQ SWTX opened at $37.44 on Wednesday. SpringWorks Therapeutics has a 1-year low of $20.19 and a 1-year high of $53.92. The business’s fifty day moving average price is $32.57 and its two-hundred day moving average price is $36.90.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $53.28 million. During the same period last year, the company earned ($1.27) earnings per share. The firm’s revenue for the quarter was up 4810.0% on a year-over-year basis. As a group, equities research analysts anticipate that SpringWorks Therapeutics will post -3.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its holdings in SpringWorks Therapeutics by 47.9% during the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock worth $45,000 after acquiring an additional 383 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in SpringWorks Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after acquiring an additional 474 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in SpringWorks Therapeutics during the second quarter worth about $123,000. Quantbot Technologies LP acquired a new position in SpringWorks Therapeutics during the third quarter worth about $147,000. Finally, Quarry LP grew its holdings in SpringWorks Therapeutics by 56.3% during the second quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $188,000 after acquiring an additional 1,800 shares during the period.

About SpringWorks Therapeutics

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.