SpringWorks Therapeutics (NASDAQ:SWTX) Stock Rating Upgraded by BidaskClub

SpringWorks Therapeutics (NASDAQ:SWTX) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, BidAskClub reports.

SWTX has been the subject of several other reports. Barclays lifted their target price on shares of SpringWorks Therapeutics from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, September 15th. Wedbush reiterated a “buy” rating on shares of SpringWorks Therapeutics in a research report on Monday, August 17th. HC Wainwright reiterated a “buy” rating and set a $58.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, August 6th. Finally, ValuEngine lowered shares of SpringWorks Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 15th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. SpringWorks Therapeutics has an average rating of “Buy” and a consensus target price of $44.33.

SWTX stock opened at $48.89 on Friday. The firm has a 50 day moving average of $43.28 and a 200-day moving average of $36.97. SpringWorks Therapeutics has a 12 month low of $17.02 and a 12 month high of $49.79. The firm has a market capitalization of $2.10 billion and a P/E ratio of -16.30.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Wednesday, August 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.11). Analysts anticipate that SpringWorks Therapeutics will post -1.87 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of SpringWorks Therapeutics by 19.4% in the 1st quarter. State Street Corp now owns 173,419 shares of the company’s stock worth $4,682,000 after acquiring an additional 28,166 shares during the last quarter. Swiss National Bank purchased a new position in shares of SpringWorks Therapeutics in the second quarter worth $1,210,000. CIBC Asset Management Inc increased its stake in shares of SpringWorks Therapeutics by 12.5% in the second quarter. CIBC Asset Management Inc now owns 125,161 shares of the company’s stock worth $5,257,000 after buying an additional 13,895 shares during the period. Nuveen Asset Management LLC increased its stake in shares of SpringWorks Therapeutics by 14.8% in the first quarter. Nuveen Asset Management LLC now owns 42,742 shares of the company’s stock worth $1,154,000 after buying an additional 5,502 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of SpringWorks Therapeutics by 22.0% in the first quarter. Geode Capital Management LLC now owns 160,613 shares of the company’s stock worth $4,336,000 after buying an additional 29,016 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

SpringWorks Therapeutics Company Profile

SpringWorks Therapeutics, Inc, a clinical-stage biopharmaceutical company, acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its advanced product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase 3 clinical trials for the treatment of desmoid tumors.

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Analyst Recommendations for SpringWorks Therapeutics (NASDAQ:SWTX)

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