SpringWorks Therapeutics’ (SWTX) “Outperform” Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research report released on Wednesday morning, RTT News reports. They currently have a $77.00 price target on the stock, up from their prior price target of $75.00.

Separately, HC Wainwright reiterated a buy rating and set a $76.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday. Six 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 a consensus price target of $69.50.

SpringWorks Therapeutics Trading Up 0.3 %

Shares of SWTX opened at $41.20 on Wednesday. SpringWorks Therapeutics has a twelve month low of $18.00 and a twelve month high of $53.92. The firm has a market capitalization of $3.06 billion, a P/E ratio of -8.02 and a beta of 0.78. The stock’s fifty day simple moving average is $37.52 and its 200 day simple moving average is $42.62.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.58. The firm had revenue of $59.73 million during the quarter, compared to analysts’ expectations of $34.42 million. During the same quarter last year, the business earned ($1.25) earnings per share. The business’s revenue for the quarter was up 59732900.0% compared to the same quarter last year. Sell-side analysts predict that SpringWorks Therapeutics will post -3.34 earnings per share for the current year.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its stake in shares of SpringWorks Therapeutics by 47.9% during the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock valued at $45,000 after purchasing an additional 383 shares during the period. Headlands Technologies LLC acquired a new stake in SpringWorks Therapeutics during the 4th quarter valued at $74,000. Strs Ohio purchased a new stake in SpringWorks Therapeutics during the 4th quarter worth $102,000. Allspring Global Investments Holdings LLC acquired a new position in SpringWorks Therapeutics in the 2nd quarter worth $123,000. Finally, Quarry LP boosted its position in SpringWorks Therapeutics by 56.3% in the 2nd 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.

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.