SpringWorks Therapeutics (NASDAQ:SWTX) Receives $52.57 Average Target Price from Brokerages

SpringWorks Therapeutics (NASDAQ:SWTX) has been assigned a consensus recommendation of “Hold” from the eight research firms that are presently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $52.57.

Several equities research analysts have recently weighed in on the company. TD Cowen reiterated a “hold” rating and set a $47.00 price target (down from $66.00) on shares of SpringWorks Therapeutics in a research report on Tuesday, April 29th. Guggenheim reiterated a “neutral” rating and set a $47.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, May 12th. HC Wainwright reiterated a “neutral” rating and set a $47.00 price target (down from $74.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, April 30th. Barclays reiterated an “equal weight” rating and set a $47.00 price target (down from $63.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Finally, Cowen cut SpringWorks Therapeutics to a “hold” rating in a research report on Tuesday, April 29th.

SpringWorks Therapeutics Stock Performance

Shares of SpringWorks Therapeutics stock opened at $46.97 on Tuesday. SpringWorks Therapeutics has a 52-week low of $28.21 and a 52-week high of $62.00. The stock’s 50-day simple moving average is $45.32 and its 200 day simple moving average is $44.04. The stock has a market capitalization of $3.54 billion, a P/E ratio of -13.77 and a beta of 0.70.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Friday, May 9th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.30). SpringWorks Therapeutics had a negative net margin of 115.60% and a negative return on equity of 51.10%. The firm had revenue of $49.09 million during the quarter, compared to the consensus estimate of $64.19 million. Equities research analysts forecast that SpringWorks Therapeutics will post -2.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Huntington National Bank grew its holdings in shares of SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after purchasing an additional 192 shares in the last quarter. AlphaQuest LLC boosted its stake in SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after buying an additional 414 shares in the last quarter. Twin Tree Management LP purchased a new stake in SpringWorks Therapeutics in the first quarter worth approximately $37,000. Venturi Wealth Management LLC purchased a new stake in SpringWorks Therapeutics in the fourth quarter worth approximately $45,000. Finally, State of Wyoming boosted its stake in SpringWorks Therapeutics by 39.5% in the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock worth $55,000 after buying an additional 433 shares in the last quarter.

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.