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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has received an average recommendation of “Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued a report on the stock in the last year is $68.50.

A number of brokerages recently issued reports on SWTX. JPMorgan Chase & Co. boosted their price objective on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Wedbush reiterated an “outperform” rating and set a $77.00 price objective (up from $75.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. Finally, HC Wainwright reiterated a “buy” rating and set a $76.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th.

SpringWorks Therapeutics Price Performance

SWTX opened at $30.45 on Friday. The stock has a 50-day moving average price of $36.13 and a 200-day moving average price of $39.20. The firm has a market cap of $2.26 billion, a PE ratio of -5.92 and a beta of 0.78. SpringWorks Therapeutics has a 1 year low of $18.00 and a 1 year high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share 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. During the same period last year, the firm posted ($1.25) EPS. SpringWorks Therapeutics’s quarterly revenue was up 59732900.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that SpringWorks Therapeutics will post -3.36 EPS for the current year.

Institutional Investors Weigh In On SpringWorks Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. boosted its holdings in SpringWorks Therapeutics by 47.9% in 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 in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in SpringWorks Therapeutics in the second quarter worth about $123,000. CANADA LIFE ASSURANCE Co boosted its holdings in SpringWorks Therapeutics by 20.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock worth $220,000 after acquiring an additional 754 shares in the last quarter. SG Americas Securities LLC boosted its holdings in SpringWorks Therapeutics by 8.3% in the first quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock worth $230,000 after acquiring an additional 358 shares in the last quarter. Finally, Financial Security Advisor Inc. acquired a new stake in SpringWorks Therapeutics in the first quarter worth about $246,000.

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.