SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives Consensus Recommendation of “Buy” from Analysts

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has received an average rating of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have covered the stock in the last year is $68.83.

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

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of institutional investors have recently added to or reduced their stakes in SWTX. Vanguard Group Inc. increased its position in shares of SpringWorks Therapeutics by 8.2% in the first quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company’s stock worth $321,373,000 after purchasing an additional 492,783 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in SpringWorks Therapeutics by 48.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock worth $202,318,000 after buying an additional 1,333,892 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of SpringWorks Therapeutics in the 1st quarter worth $114,083,000. Point72 Asset Management L.P. raised its position in shares of SpringWorks Therapeutics by 310.7% during the 4th quarter. Point72 Asset Management L.P. now owns 2,162,176 shares of the company’s stock valued at $78,919,000 after buying an additional 1,635,722 shares in the last quarter. Finally, Perceptive Advisors LLC lifted its holdings in shares of SpringWorks Therapeutics by 28.7% during the 4th quarter. Perceptive Advisors LLC now owns 1,957,246 shares of the company’s stock worth $71,439,000 after acquiring an additional 436,830 shares during the last quarter.

SpringWorks Therapeutics Trading Up 0.0 %

NASDAQ SWTX opened at $37.28 on Thursday. The company has a market cap of $2.76 billion, a P/E ratio of -7.25 and a beta of 0.78. The company has a fifty day simple moving average of $41.05 and a 200 day simple moving average of $43.30. SpringWorks Therapeutics has a 12-month low of $18.00 and a 12-month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Thursday, May 2nd. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.01). The firm had revenue of $21.00 million during the quarter, compared to the consensus estimate of $12.07 million. During the same quarter last year, the firm earned ($1.18) EPS. SpringWorks Therapeutics’s revenue for the quarter was up 2000.0% on a year-over-year basis. Sell-side analysts predict that SpringWorks Therapeutics will post -4.62 EPS for the current year.

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.