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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has been assigned an average recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued a report on the stock in the last year is $68.50.

A number of research firms recently commented on SWTX. JPMorgan Chase & Co. upped their price objective on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Wedbush reissued an “outperform” rating and issued a $77.00 price objective (up previously from $75.00) on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $76.00 target price on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its holdings in SpringWorks Therapeutics by 47.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock worth $45,000 after buying an additional 383 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of SpringWorks Therapeutics during the second quarter worth about $123,000. CANADA LIFE ASSURANCE Co grew its position in shares of SpringWorks Therapeutics by 20.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock worth $220,000 after purchasing an additional 754 shares in the last quarter. SG Americas Securities LLC raised its stake in SpringWorks Therapeutics by 8.3% during the 1st quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock valued at $230,000 after purchasing an additional 358 shares during the period. Finally, Financial Security Advisor Inc. purchased a new position in SpringWorks Therapeutics in the 1st quarter worth approximately $246,000.

SpringWorks Therapeutics Price Performance

SWTX stock opened at $34.38 on Tuesday. The stock has a market capitalization of $2.55 billion, a P/E ratio of -6.69 and a beta of 0.79. SpringWorks Therapeutics has a 1-year low of $18.00 and a 1-year high of $53.92. The business has a fifty day moving average price of $37.80 and a 200-day moving average price of $41.32.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($1.12) by $0.58. The company had revenue of $59.73 million for the quarter, compared to analysts’ expectations of $34.42 million. The firm’s revenue for the quarter was up 59732900.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.25) earnings per share. As a group, analysts anticipate that SpringWorks Therapeutics will post -3.36 earnings per share for the current year.

About SpringWorks Therapeutics

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.