SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives $68.50 Average Target Price from Brokerages

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has been assigned a consensus recommendation of “Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is $68.50.

A number of analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $77.00 price target (up previously from $75.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. HC Wainwright reaffirmed a “buy” rating and set a $76.00 target price on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. First Horizon Advisors Inc. increased its position 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. Allspring Global Investments Holdings LLC bought a new position in shares of SpringWorks Therapeutics during the 2nd quarter worth about $123,000. Quarry LP raised its position in shares of SpringWorks Therapeutics by 56.3% during the second quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $188,000 after buying an additional 1,800 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of SpringWorks Therapeutics by 20.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock valued at $220,000 after buying an additional 754 shares during the period. Finally, SG Americas Securities LLC grew its position in SpringWorks Therapeutics by 8.3% during the first quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock worth $230,000 after buying an additional 358 shares in the last quarter.

SpringWorks Therapeutics Stock Down 0.6 %

NASDAQ SWTX opened at $35.35 on Tuesday. The stock has a market capitalization of $2.63 billion, a PE ratio of -6.88 and a beta of 0.79. SpringWorks Therapeutics has a 12-month low of $18.00 and a 12-month high of $53.92. The company has a 50 day moving average price of $37.94 and a two-hundred day moving average price of $41.49.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.58. The business had revenue of $59.73 million for the quarter, compared to the consensus estimate of $34.42 million. The firm’s revenue for the quarter was up 59732900.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.25) EPS. As a group, equities analysts anticipate that SpringWorks Therapeutics will post -3.36 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.