Brokerages Set SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Target Price at $69.50

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has been given a consensus recommendation of “Buy” by the six ratings firms that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $69.50.

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Wedbush reaffirmed an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday, November 18th. Evercore ISI assumed coverage on shares of SpringWorks Therapeutics in a report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price target for the company. Finally, HC Wainwright decreased their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, November 12th.

SpringWorks Therapeutics Stock Performance

Shares of SWTX opened at $42.55 on Friday. The company has a 50 day moving average price of $33.58 and a 200-day moving average price of $36.65. SpringWorks Therapeutics has a fifty-two week low of $28.21 and a fifty-two week high of $53.92. The stock has a market capitalization of $3.17 billion, a PE ratio of -10.97 and a beta of 0.86.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating 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 company had revenue of $49.10 million during the quarter, compared to analysts’ expectations of $53.28 million. During the same quarter in the prior year, the company posted ($1.27) earnings per share. SpringWorks Therapeutics’s revenue for the quarter was up 4810.0% compared to the same quarter last year. Equities research analysts forecast that SpringWorks Therapeutics will post -3.12 EPS for the current year.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of institutional investors have recently made changes to their positions in SWTX. Duquesne Family Office LLC acquired a new stake in shares of SpringWorks Therapeutics during the second quarter valued at about $38,475,000. Maverick Capital Ltd. grew its holdings in shares of SpringWorks Therapeutics by 36.3% in the second quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock valued at $97,962,000 after purchasing an additional 691,894 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after purchasing an additional 464,903 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of SpringWorks Therapeutics by 41.4% in the second quarter. Fiera Capital Corp now owns 1,297,302 shares of the company’s stock valued at $48,869,000 after purchasing an additional 380,027 shares in the last quarter. Finally, Candriam S.C.A. grew its holdings in shares of SpringWorks Therapeutics by 160.2% in the second quarter. Candriam S.C.A. now owns 522,104 shares of the company’s stock valued at $19,667,000 after purchasing an additional 321,476 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.