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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has earned a consensus rating of “Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $68.83.

Several research analysts recently issued reports on the company. Wedbush reissued an “outperform” rating and issued a $75.00 price objective (up previously from $70.00) on shares of SpringWorks Therapeutics in a research note on Thursday, May 2nd. HC Wainwright reissued a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research note on Friday, May 31st.

SpringWorks Therapeutics Stock Down 5.2 %

Shares of NASDAQ:SWTX opened at $33.43 on Monday. SpringWorks Therapeutics has a 52-week low of $18.00 and a 52-week high of $53.92. The stock has a market cap of $2.48 billion, a P/E ratio of -6.50 and a beta of 0.78. The business’s 50 day moving average is $38.32 and its 200 day moving average is $43.39.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.01). The company had revenue of $21.00 million during the quarter, compared to the consensus estimate of $12.07 million. During the same quarter in the prior year, the business posted ($1.18) earnings per share. The firm’s quarterly revenue was up 2000.0% compared to the same quarter last year. On average, sell-side analysts anticipate that SpringWorks Therapeutics will post -4.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SWTX. Fiera Capital Corp boosted its position in shares of SpringWorks Therapeutics by 41.4% in the 2nd quarter. Fiera Capital Corp now owns 1,297,302 shares of the company’s stock worth $48,869,000 after purchasing an additional 380,027 shares in the last quarter. Rhumbline Advisers boosted its position in shares of SpringWorks Therapeutics by 5.1% in the 2nd quarter. Rhumbline Advisers now owns 104,656 shares of the company’s stock worth $3,942,000 after purchasing an additional 5,081 shares in the last quarter. Peregrine Capital Management LLC boosted its position in shares of SpringWorks Therapeutics by 17.1% in the 2nd quarter. Peregrine Capital Management LLC now owns 136,563 shares of the company’s stock worth $5,144,000 after purchasing an additional 19,915 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of SpringWorks Therapeutics by 2,576.7% in the 2nd quarter. Principal Financial Group Inc. now owns 453,542 shares of the company’s stock worth $17,085,000 after purchasing an additional 436,598 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of SpringWorks Therapeutics in the 2nd quarter worth $123,000.

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.