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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has been assigned a consensus recommendation of “Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is $68.50.

SWTX has been the subject of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $76.00 price target on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. Wedbush reiterated an “outperform” rating and set a $77.00 target price (up previously from $75.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. lifted their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th.

SpringWorks Therapeutics Trading Down 4.4 %

Shares of NASDAQ:SWTX opened at $32.88 on Tuesday. The stock has a 50 day moving average of $37.62 and a 200 day moving average of $41.10. The company has a market cap of $2.44 billion, a PE ratio of -6.40 and a beta of 0.79. SpringWorks Therapeutics has a 12-month low of $18.00 and a 12-month high of $53.92.

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

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its position in shares of SpringWorks Therapeutics by 47.9% during the 2nd 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. Allspring Global Investments Holdings LLC purchased a new position in shares of SpringWorks Therapeutics in the 2nd quarter worth $123,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of SpringWorks Therapeutics by 20.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock worth $220,000 after buying an additional 754 shares during the last quarter. SG Americas Securities LLC raised its position in shares of 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 buying an additional 358 shares in the last quarter. Finally, Financial Security Advisor Inc. bought a new position in shares of SpringWorks Therapeutics in the 1st quarter valued at about $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.