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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has been given a consensus recommendation of “Buy” by the six brokerages that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued a report on the stock in the last year is $68.83.

SWTX has been the subject of several research reports. HC Wainwright restated a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday, May 31st. Wedbush reiterated an “outperform” rating and set a $75.00 price target (up previously from $70.00) on shares of SpringWorks Therapeutics in a research note on Thursday, May 2nd.

SpringWorks Therapeutics Trading Up 3.7 %

SWTX stock opened at $38.14 on Thursday. The stock has a 50-day moving average price of $40.57 and a 200-day moving average price of $43.47. The firm has a market cap of $2.83 billion, a PE ratio of -7.42 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 Thursday, May 2nd. The company reported ($1.18) EPS for the quarter, missing the consensus estimate 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. SpringWorks Therapeutics’s revenue for the quarter was up 2000.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.18) EPS. On average, analysts forecast that SpringWorks Therapeutics will post -4.62 earnings per share for the current year.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SWTX. DNB Asset Management AS raised its holdings in shares of SpringWorks Therapeutics by 16.5% in the 2nd quarter. DNB Asset Management AS now owns 11,402 shares of the company’s stock worth $429,000 after purchasing an additional 1,617 shares during the period. Farallon Capital Management LLC bought a new stake in shares of SpringWorks Therapeutics in the 1st quarter worth approximately $246,000. Castleark Management LLC raised its holdings in shares of SpringWorks Therapeutics by 7.3% in the 1st quarter. Castleark Management LLC now owns 78,350 shares of the company’s stock worth $3,856,000 after purchasing an additional 5,300 shares during the period. Jane Street Group LLC raised its holdings in shares of SpringWorks Therapeutics by 254.2% in the 1st quarter. Jane Street Group LLC now owns 580,938 shares of the company’s stock worth $28,594,000 after purchasing an additional 416,942 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of 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 purchasing an additional 1,333,892 shares during the period.

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.