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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has been assigned a consensus recommendation of “Buy” from the six brokerages that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $68.50.

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

SpringWorks Therapeutics Stock Up 0.6 %

NASDAQ:SWTX opened at $30.97 on Friday. The firm has a market capitalization of $2.29 billion, a P/E ratio of -6.03 and a beta of 0.78. The company has a fifty day moving average of $35.77 and a 200 day moving average of $38.83. SpringWorks Therapeutics has a 52 week low of $18.00 and a 52 week high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.54) 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 business’s revenue was up 59732900.0% on a year-over-year basis. During the same period last year, the company posted ($1.25) earnings per share. As a group, analysts anticipate that SpringWorks Therapeutics will post -3.36 EPS for the current year.

Institutional Investors Weigh In On SpringWorks Therapeutics

Hedge funds have recently bought and sold shares of the business. First Horizon Advisors Inc. lifted its holdings in shares of SpringWorks Therapeutics by 47.9% during the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock valued at $45,000 after purchasing an additional 383 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in SpringWorks Therapeutics in the second quarter worth $123,000. CANADA LIFE ASSURANCE Co boosted its holdings in SpringWorks Therapeutics by 20.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock worth $220,000 after acquiring an additional 754 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of SpringWorks Therapeutics by 8.3% in the first quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock worth $230,000 after acquiring an additional 358 shares during the last quarter. Finally, Financial Security Advisor Inc. bought a new position in shares of SpringWorks Therapeutics during the first quarter valued at $246,000.

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.