SpringWorks Therapeutics’ (SWTX) Outperform Rating Reiterated at Wedbush

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a report issued on Thursday,RTT News reports. They currently have a $77.00 price objective on the stock. Wedbush’s price target indicates a potential upside of 132.70% from the company’s previous close.

A number of other brokerages have also recently weighed in on SWTX. HC Wainwright restated a “buy” rating and set a $76.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. JPMorgan Chase & Co. boosted their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $68.50.

SpringWorks Therapeutics Trading Up 0.3 %

NASDAQ:SWTX traded up $0.09 during mid-day trading on Thursday, hitting $33.09. The stock had a trading volume of 935,300 shares, compared to its average volume of 952,329. The company has a 50 day simple moving average of $33.57 and a 200-day simple moving average of $37.57. SpringWorks Therapeutics has a 52 week low of $18.00 and a 52 week high of $53.92. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -7.47 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) 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 business had revenue of $59.73 million during the quarter, compared to analyst estimates of $34.42 million. During the same quarter in the prior year, the business earned ($1.25) earnings per share. The firm’s revenue was up 59732900.0% compared to the same quarter last year. As a group, equities research analysts anticipate that SpringWorks Therapeutics will post -3.36 earnings per share for the current year.

Institutional Trading of SpringWorks Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its holdings in shares of SpringWorks Therapeutics by 49.0% in the first quarter. Russell Investments Group Ltd. now owns 170,047 shares of the company’s stock valued at $8,370,000 after buying an additional 55,893 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of SpringWorks Therapeutics by 48.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock worth $202,318,000 after purchasing an additional 1,333,892 shares during the period. Vanguard Group Inc. lifted its holdings in shares of 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. D. E. Shaw & Co. Inc. boosted its position in shares of SpringWorks Therapeutics by 16.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 758,712 shares of the company’s stock valued at $28,581,000 after purchasing an additional 109,865 shares during the period. Finally, Seven Eight Capital LP purchased a new position in SpringWorks Therapeutics in the 2nd quarter worth about $1,854,000.

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.