SpringWorks Therapeutics (NASDAQ:SWTX) Receives Average Rating of “Hold” from Brokerages

Shares of SpringWorks Therapeutics (NASDAQ:SWTX) have received a consensus rating of “Hold” from the eight research firms that are covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $52.57.

Several research firms have weighed in on SWTX. Evercore ISI downgraded shares of SpringWorks Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. TD Cowen restated a “hold” rating and issued a $47.00 target price (down previously from $66.00) on shares of SpringWorks Therapeutics in a report on Tuesday, April 29th. Guggenheim reaffirmed a “neutral” rating and issued a $47.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, May 12th. Cowen downgraded SpringWorks Therapeutics to a “hold” rating in a research note on Tuesday, April 29th. Finally, Barclays reissued an “equal weight” rating and issued a $47.00 price objective (down from $63.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th.

SpringWorks Therapeutics Stock Performance

SWTX stock opened at $46.99 on Friday. The stock’s 50 day simple moving average is $46.74 and its 200 day simple moving average is $45.18. The company has a market cap of $3.54 billion, a P/E ratio of -13.78 and a beta of 0.68. SpringWorks Therapeutics has a fifty-two week low of $28.21 and a fifty-two week high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data on Friday, May 9th. The company reported ($1.11) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $64.19 million. Equities analysts predict that SpringWorks Therapeutics will post -2.05 earnings per share for the current year.

Institutional Investors Weigh In On SpringWorks Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of SpringWorks Therapeutics by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock worth $258,650,000 after buying an additional 445,593 shares in the last quarter. Boxer Capital Management LLC purchased a new stake in shares of SpringWorks Therapeutics during the fourth quarter valued at approximately $123,620,000. Pictet Asset Management Holding SA lifted its holdings in SpringWorks Therapeutics by 24.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock worth $86,402,000 after acquiring an additional 465,494 shares during the period. Capital International Investors lifted its holdings in SpringWorks Therapeutics by 92.7% during the fourth quarter. Capital International Investors now owns 2,361,746 shares of the company’s stock worth $85,330,000 after acquiring an additional 1,136,079 shares during the period. Finally, Woodline Partners LP boosted its position in SpringWorks Therapeutics by 43.9% in the first quarter. Woodline Partners LP now owns 2,144,814 shares of the company’s stock worth $94,651,000 after purchasing an additional 654,678 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.