SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives Consensus Recommendation of "Buy" from Brokerages

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) has earned an average rating of "Buy" from the six research firms that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $68.50.

SWTX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 4th. Wedbush reissued an "outperform" rating and issued a $77.00 target price (up from $75.00) on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $76.00 price target on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th.

SpringWorks Therapeutics Price Performance

NASDAQ SWTX traded up $1.18 during trading on Wednesday, reaching $32.77. 967,324 shares of the company's stock were exchanged, compared to its average volume of 950,560. SpringWorks Therapeutics has a fifty-two week low of $18.00 and a fifty-two week high of $53.92. The stock has a market capitalization of $2.43 billion, a P/E ratio of -7.13 and a beta of 0.79. The business has a 50 day moving average price of $33.73 and a 200-day moving average price of $37.61.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($1.12) by $0.58. The firm had revenue of $59.73 million during the quarter, compared to analyst estimates of $34.42 million. During the same period in the previous year, the company posted ($1.25) EPS. SpringWorks Therapeutics's revenue for the quarter was up 59732900.0% compared to the same quarter last year. On average, analysts forecast that SpringWorks Therapeutics will post -3.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC purchased a new position in SpringWorks Therapeutics in the first quarter valued at approximately $114,083,000. Price T Rowe Associates Inc. MD lifted its position 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 buying an additional 1,333,892 shares during the last quarter. Duquesne Family Office LLC bought a new position in shares of SpringWorks Therapeutics during the 2nd quarter worth $38,475,000. Maverick Capital Ltd. increased its holdings in SpringWorks Therapeutics by 36.3% in the 2nd quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company's stock worth $97,962,000 after acquiring an additional 691,894 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in SpringWorks Therapeutics by 8.2% during the first quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company's stock valued at $321,373,000 after purchasing an additional 492,783 shares during 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.