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

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) have been given an average rating of “Buy” by the six ratings firms that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $68.50.

Several research analysts have commented on SWTX shares. JPMorgan Chase & Co. boosted their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. HC Wainwright restated a “buy” rating and issued a $76.00 target price on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th. Finally, Wedbush restated an “outperform” rating and issued a $77.00 target price (up previously from $75.00) on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th.

SpringWorks Therapeutics Stock Performance

Shares of SWTX stock opened at $31.59 on Wednesday. The stock has a market capitalization of $2.35 billion, a P/E ratio of -7.13 and a beta of 0.79. The company has a 50 day moving average price of $33.73 and a 200 day moving average price of $37.61. SpringWorks Therapeutics has a fifty-two week low of $18.00 and a fifty-two week high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($1.12) by $0.58. The firm had revenue of $59.73 million for the quarter, compared to analyst estimates of $34.42 million. During the same quarter last year, the firm earned ($1.25) EPS. The company’s revenue was up 59732900.0% on a year-over-year basis. On average, research analysts forecast that SpringWorks Therapeutics will post -3.36 EPS for the current fiscal year.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of large investors have recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in SpringWorks Therapeutics by 19.7% during the 3rd quarter. Victory Capital Management Inc. now owns 629,387 shares of the company’s stock worth $20,166,000 after buying an additional 103,404 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of SpringWorks Therapeutics in the 3rd quarter valued at about $209,000. Entropy Technologies LP purchased a new position in shares of SpringWorks Therapeutics in the 3rd quarter valued at about $320,000. Los Angeles Capital Management LLC increased its holdings in shares of SpringWorks Therapeutics by 238.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock valued at $1,513,000 after purchasing an additional 33,255 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of SpringWorks Therapeutics by 1.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company’s stock valued at $1,486,000 after purchasing an additional 871 shares in the last quarter.

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.