Brokerages Set SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Price Target at $68.83

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has been given a consensus rating of “Buy” by the six analysts that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $69.50.

SWTX has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $77.00 price target (up from $75.00) on shares of SpringWorks Therapeutics in a report on Wednesday. HC Wainwright reissued a “buy” rating and set a $76.00 price target on shares of SpringWorks Therapeutics in a research note on Wednesday.

SpringWorks Therapeutics Price Performance

NASDAQ:SWTX opened at $40.93 on Friday. SpringWorks Therapeutics has a 12-month low of $18.00 and a 12-month high of $53.92. The firm has a 50-day moving average price of $37.62 and a 200 day moving average price of $42.61.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.12) by $0.58. The firm had revenue of $59.73 million for the quarter, compared to the consensus estimate of $34.42 million. The company’s revenue for the quarter was up 59732900.0% on a year-over-year basis. During the same period in the prior year, the business earned ($1.25) earnings per share. As a group, equities analysts anticipate that SpringWorks Therapeutics will post -3.34 EPS for the current year.

Institutional Investors Weigh In On SpringWorks Therapeutics

Institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. boosted its stake in SpringWorks Therapeutics by 47.9% in the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock valued at $45,000 after acquiring an additional 383 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of SpringWorks Therapeutics in the 4th quarter valued at $74,000. Strs Ohio bought a new position in shares of SpringWorks Therapeutics in the 4th quarter worth $102,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of SpringWorks Therapeutics during the second quarter worth $123,000. Finally, Quarry LP increased its holdings in SpringWorks Therapeutics by 56.3% in the second quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $188,000 after purchasing 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.