SpringWorks Therapeutics (NASDAQ:SWTX) Trading 8.1% Higher - Should You Buy?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report)'s stock price shot up 8.1% during mid-day trading on Friday . The stock traded as high as $39.31 and last traded at $39.23. 479,566 shares changed hands during trading, a decline of 52% from the average session volume of 998,040 shares. The stock had previously closed at $36.30.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Evercore ISI assumed coverage on SpringWorks Therapeutics in a research note on Wednesday. They set an "outperform" rating and a $60.00 price objective on the stock. Wedbush reissued an "outperform" rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research report on Monday. JPMorgan Chase & Co. upped their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, September 4th. Finally, HC Wainwright decreased their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, SpringWorks Therapeutics presently has an average rating of "Buy" and a consensus target price of $67.00.

SpringWorks Therapeutics Stock Performance

The firm has a 50-day moving average of $32.57 and a 200-day moving average of $36.89. The firm has a market capitalization of $2.90 billion, a P/E ratio of -10.05 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (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 period last year, the company posted ($1.27) EPS. SpringWorks Therapeutics's revenue was up 4810.0% on a year-over-year basis. Equities analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.14 EPS for the current fiscal year.

Institutional Trading of SpringWorks Therapeutics

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of SpringWorks Therapeutics by 7.0% during the third quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company's stock valued at $53,526,000 after acquiring an additional 109,189 shares in the last quarter. Barclays PLC increased its position in SpringWorks Therapeutics by 60.4% during the third quarter. Barclays PLC now owns 155,676 shares of the company's stock valued at $4,987,000 after acquiring an additional 58,645 shares during the last quarter. Main Management ETF Advisors LLC bought a new position in shares of SpringWorks Therapeutics in the third quarter worth about $746,000. Wellington Management Group LLP lifted its position in shares of SpringWorks Therapeutics by 5.6% in 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 in the last quarter. Finally, Soros Fund Management LLC increased 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 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.

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