SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives $68.50 Average PT from Analysts

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) have received an average rating of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $68.50.

A number of brokerages have recently weighed in on SWTX. JPMorgan Chase & Co. lifted 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 reaffirmed a “buy” rating and set a $76.00 price objective on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. Finally, Wedbush reissued an “outperform” rating and issued a $77.00 target price (up previously from $75.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th.

SpringWorks Therapeutics Stock Performance

NASDAQ SWTX opened at $34.38 on Tuesday. The stock has a market cap of $2.55 billion, a P/E ratio of -6.69 and a beta of 0.79. SpringWorks Therapeutics has a fifty-two week low of $18.00 and a fifty-two week high of $53.92. The stock has a 50 day simple moving average of $37.80 and a two-hundred day simple moving average of $41.32.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.58. The business had revenue of $59.73 million during the quarter, compared to analysts’ expectations of $34.42 million. The business’s revenue was up 59732900.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.25) EPS. Sell-side analysts predict that SpringWorks Therapeutics will post -3.36 earnings per share for the current year.

Institutional Trading of SpringWorks Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in SWTX. Lord Abbett & CO. LLC purchased a new position in SpringWorks Therapeutics during the first quarter valued at $114,083,000. Point72 Asset Management L.P. boosted its stake in SpringWorks Therapeutics by 310.7% in the 4th quarter. Point72 Asset Management L.P. now owns 2,162,176 shares of the company’s stock worth $78,919,000 after purchasing an additional 1,635,722 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in SpringWorks Therapeutics by 48.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock valued at $202,318,000 after purchasing an additional 1,333,892 shares during the last quarter. Vanguard Group Inc. increased its stake in SpringWorks Therapeutics by 22.6% during the 4th quarter. Vanguard Group Inc. now owns 6,036,542 shares of the company’s stock valued at $220,334,000 after purchasing an additional 1,114,080 shares in the last quarter. Finally, Duquesne Family Office LLC bought a new stake in SpringWorks Therapeutics during the 2nd quarter valued at about $38,475,000.

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.