Analysts Set SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Target Price at $68.50

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $68.17.

A number of equities analysts recently commented on SWTX shares. HC Wainwright reduced their price objective on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday. Wedbush reissued an “outperform” rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price objective 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.

SpringWorks Therapeutics Stock Performance

Shares of SWTX stock opened at $33.10 on Wednesday. The firm has a market capitalization of $2.46 billion, a P/E ratio of -7.47 and a beta of 0.79. SpringWorks Therapeutics has a 52-week low of $18.00 and a 52-week high of $53.92. The stock has a 50 day moving average price of $33.09 and a 200 day moving average price of $37.32.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Alpha DNA Investment Management LLC purchased a new position in shares of SpringWorks Therapeutics during the third quarter worth about $411,000. Charles Schwab Investment Management Inc. boosted its position in SpringWorks Therapeutics by 13.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 602,227 shares of the company’s stock worth $19,295,000 after acquiring an additional 73,613 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in SpringWorks Therapeutics by 20.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 643,192 shares of the company’s stock valued at $20,608,000 after purchasing an additional 108,109 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of SpringWorks Therapeutics during the 3rd quarter worth about $676,000. Finally, Commerce Bank acquired a new position in shares of SpringWorks Therapeutics in the 3rd quarter valued at $207,000.

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.