SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Given Average Rating of “Buy” by Analysts

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) have been given a consensus recommendation of “Buy” by the six brokerages that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $68.83.

A number of equities research analysts have weighed in on SWTX shares. HC Wainwright reiterated a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday, May 31st. Wedbush reiterated an “outperform” rating and set a $75.00 target price (up from $70.00) on shares of SpringWorks Therapeutics in a research note on Thursday, May 2nd.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in SpringWorks Therapeutics in the 4th quarter worth $74,000. Strs Ohio bought a new position in SpringWorks Therapeutics in the 4th quarter worth $102,000. SG Americas Securities LLC bought a new position in SpringWorks Therapeutics in the 4th quarter worth $157,000. Exchange Traded Concepts LLC boosted its holdings in SpringWorks Therapeutics by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,323 shares of the company’s stock worth $194,000 after buying an additional 1,350 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of SpringWorks Therapeutics by 20.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock valued at $220,000 after purchasing an additional 754 shares during the last quarter.

SpringWorks Therapeutics Stock Up 3.2 %

Shares of NASDAQ SWTX opened at $39.54 on Thursday. SpringWorks Therapeutics has a twelve month low of $18.00 and a twelve month high of $53.92. The firm has a market cap of $2.93 billion, a P/E ratio of -7.69 and a beta of 0.78. The company has a 50 day moving average of $40.26 and a 200 day moving average of $43.46.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.01). The company had revenue of $21.00 million for the quarter, compared to the consensus estimate of $12.07 million. The firm’s revenue was up 2000.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.18) EPS. As a group, equities analysts expect that SpringWorks Therapeutics will post -4.62 earnings per share for the current fiscal year.

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.