SpringWorks Therapeutics (NASDAQ:SWTX) Research Coverage Started at Evercore ISI

Evercore ISI began coverage on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $60.00 price objective on the stock.

SWTX has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their target price on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Wedbush reissued an “outperform” rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a report on Monday, November 18th. Finally, HC Wainwright reduced their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, SpringWorks Therapeutics presently has an average rating of “Buy” and a consensus price target of $67.00.

SpringWorks Therapeutics Stock Performance

SWTX stock opened at $39.02 on Wednesday. The stock has a fifty day moving average of $32.60 and a 200-day moving average of $36.84. SpringWorks Therapeutics has a fifty-two week low of $20.19 and a fifty-two week high of $53.92. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of -10.06 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.03. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The firm had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. During the same quarter last year, the business earned ($1.27) earnings per share. The company’s quarterly revenue was up 4810.0% on a year-over-year basis. Equities analysts predict that SpringWorks Therapeutics will post -3.14 EPS for the current year.

Institutional Investors Weigh In On SpringWorks Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. lifted its holdings 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 worth $45,000 after acquiring an additional 383 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in SpringWorks Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after purchasing an additional 474 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in SpringWorks Therapeutics during the second quarter worth about $123,000. Quantbot Technologies LP purchased a new position in shares of SpringWorks Therapeutics in the 3rd quarter worth about $147,000. Finally, Quarry LP increased its position in shares of SpringWorks Therapeutics by 56.3% during the 2nd 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.