SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives $68.50 Consensus Price Target from Brokerages

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) has been assigned an average rating of “Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $68.50.

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

SpringWorks Therapeutics Price Performance

Shares of SpringWorks Therapeutics stock opened at $32.88 on Tuesday. SpringWorks Therapeutics has a 1 year low of $18.00 and a 1 year high of $53.92. The company has a 50-day moving average of $37.62 and a 200 day moving average of $41.10. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -6.40 and a beta of 0.79.

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, beating the consensus estimate of ($1.12) by $0.58. The business had revenue of $59.73 million for the quarter, compared to analysts’ expectations of $34.42 million. SpringWorks Therapeutics’s revenue for the quarter was up 59732900.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.25) earnings per share. On average, equities analysts anticipate that SpringWorks Therapeutics will post -3.36 EPS for the current year.

Hedge Funds Weigh In On SpringWorks Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank raised its holdings in shares of SpringWorks Therapeutics by 22.2% during the fourth quarter. Swiss National Bank now owns 92,400 shares of the company’s stock valued at $3,373,000 after purchasing an additional 16,800 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of SpringWorks Therapeutics by 9.1% during the 4th quarter. Amalgamated Bank now owns 9,666 shares of the company’s stock valued at $353,000 after buying an additional 805 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of SpringWorks Therapeutics by 18.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 501,067 shares of the company’s stock valued at $18,289,000 after buying an additional 77,303 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of SpringWorks Therapeutics by 5.1% in the 4th quarter. Teacher Retirement System of Texas now owns 10,268 shares of the company’s stock worth $375,000 after buying an additional 498 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of SpringWorks Therapeutics by 8.3% in the fourth quarter. Principal Financial Group Inc. now owns 16,120 shares of the company’s stock worth $588,000 after acquiring an additional 1,231 shares during the period.

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.