Evercore ISI Begins Coverage on SpringWorks Therapeutics (NASDAQ:SWTX)

Equities research analysts at Evercore ISI assumed coverage on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research report issued on Wednesday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $60.00 price target on the stock. Evercore ISI’s price target indicates a potential upside of 65.29% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. HC Wainwright dropped their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Wedbush reiterated an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their target price on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics has an average rating of “Buy” and an average target price of $67.00.

SpringWorks Therapeutics Stock Performance

NASDAQ SWTX opened at $36.30 on Wednesday. The stock has a market capitalization of $2.70 billion, a P/E ratio of -9.36 and a beta of 0.79. The business’s fifty day moving average is $32.57 and its two-hundred day moving average is $36.89. SpringWorks Therapeutics has a 1 year low of $20.19 and a 1 year high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.03. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The firm had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. During the same quarter in the previous year, the company earned ($1.27) EPS. The business’s revenue for the quarter was up 4810.0% compared to the same quarter last year. On average, research analysts forecast that SpringWorks Therapeutics will post -3.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of SpringWorks Therapeutics by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock worth $53,526,000 after purchasing an additional 109,189 shares during the period. Barclays PLC grew its position in SpringWorks Therapeutics by 60.4% during the third quarter. Barclays PLC now owns 155,676 shares of the company’s stock worth $4,987,000 after buying an additional 58,645 shares in the last quarter. Main Management ETF Advisors LLC acquired a new stake in SpringWorks Therapeutics during the third quarter worth about $746,000. Wellington Management Group LLP increased its stake in SpringWorks Therapeutics by 5.6% during the third quarter. Wellington Management Group LLP now owns 34,994 shares of the company’s stock valued at $1,121,000 after acquiring an additional 1,853 shares during the period. Finally, Soros Fund Management LLC raised its holdings in SpringWorks Therapeutics by 45.3% in the 3rd quarter. Soros Fund Management LLC now owns 559,321 shares of the company’s stock valued at $17,921,000 after acquiring an additional 174,321 shares in 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.