SpringWorks Therapeutics (NASDAQ:SWTX) Earns “Outperform” Rating from Wedbush

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a note issued to investors on Monday,RTT News reports. They presently have a $77.00 target price on the stock. Wedbush’s price objective suggests a potential upside of 122.80% from the stock’s current price. Wedbush also issued estimates for SpringWorks Therapeutics’ Q4 2024 earnings at ($0.76) EPS, FY2024 earnings at ($3.21) EPS, Q1 2025 earnings at ($0.75) EPS, Q2 2025 earnings at ($0.71) EPS, Q3 2025 earnings at ($0.60) EPS, Q4 2025 earnings at ($0.46) EPS, FY2025 earnings at ($2.51) EPS, FY2026 earnings at $0.14 EPS and FY2027 earnings at $3.47 EPS.

SWTX has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their price objective on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. HC Wainwright dropped their price objective on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $68.17.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ SWTX traded down $1.89 during mid-day trading on Monday, hitting $34.56. The stock had a trading volume of 1,202,608 shares, compared to its average volume of 997,127. The business has a 50 day moving average price of $32.70 and a two-hundred day moving average price of $37.00. The firm has a market cap of $2.57 billion, a P/E ratio of -8.91 and a beta of 0.79. SpringWorks Therapeutics has a 1 year low of $20.19 and a 1 year high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.03. The firm had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The business’s revenue was up 4810.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.27) EPS. Equities research analysts predict that SpringWorks Therapeutics will post -3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of large investors have recently made changes to their positions in SWTX. Price T Rowe Associates Inc. MD boosted its stake 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 worth $202,318,000 after acquiring an additional 1,333,892 shares during the last quarter. Vanguard Group Inc. increased its position in SpringWorks Therapeutics by 8.2% in the first quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company’s stock worth $321,373,000 after buying an additional 492,783 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of SpringWorks Therapeutics by 16.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 758,712 shares of the company’s stock worth $28,581,000 after buying an additional 109,865 shares during the period. Seven Eight Capital LP purchased a new position in shares of SpringWorks Therapeutics during the 2nd quarter valued at about $1,854,000. Finally, Los Angeles Capital Management LLC grew its stake in shares of SpringWorks Therapeutics by 238.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock valued at $1,513,000 after acquiring an additional 33,255 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.