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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has been given an average recommendation of “Buy” by the six research firms that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $68.50.

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

SpringWorks Therapeutics Stock Performance

Shares of SWTX stock opened at $35.35 on Tuesday. The stock has a market cap of $2.63 billion, a PE ratio of -6.88 and a beta of 0.79. The business’s fifty day moving average is $37.94 and its 200-day moving average is $41.49. SpringWorks Therapeutics has a 1 year low of $18.00 and a 1 year high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm earned ($1.25) earnings per share. SpringWorks Therapeutics’s revenue was up 59732900.0% on a year-over-year basis. Equities research analysts predict that SpringWorks Therapeutics will post -3.36 earnings per share for the current year.

Institutional Trading of SpringWorks Therapeutics

A number of hedge funds have recently modified their holdings of SWTX. Russell Investments Group Ltd. boosted its holdings in shares of SpringWorks Therapeutics by 49.0% during the first quarter. Russell Investments Group Ltd. now owns 170,047 shares of the company’s stock worth $8,370,000 after purchasing an additional 55,893 shares during the period. Seven Eight Capital LP acquired a new stake in shares of SpringWorks Therapeutics during the 4th quarter valued at $1,544,000. Price T Rowe Associates Inc. MD grew its holdings in shares of SpringWorks Therapeutics by 48.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock valued at $202,318,000 after acquiring an additional 1,333,892 shares in the last quarter. Perceptive Advisors LLC increased its stake in shares of SpringWorks Therapeutics by 28.7% in the fourth quarter. Perceptive Advisors LLC now owns 1,957,246 shares of the company’s stock worth $71,439,000 after acquiring an additional 436,830 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of SpringWorks Therapeutics by 310.7% during the fourth quarter. Point72 Asset Management L.P. now owns 2,162,176 shares of the company’s stock worth $78,919,000 after acquiring an additional 1,635,722 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.