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

SpringWorks Therapeutics (NASDAQ:SWTX)‘s stock had its “outperform” rating restated by analysts at Wedbush in a research report issued to clients and investors on Monday,RTT News reports. They currently have a $77.00 target price on the stock. Wedbush’s price target would suggest a potential upside of 103.01% from the company’s previous close. 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.

Several other brokerages also recently issued reports on SWTX. JPMorgan Chase & Co. lifted their price objective on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. HC Wainwright cut their price objective on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $68.17.

SpringWorks Therapeutics Price Performance

Shares of SWTX stock opened at $37.93 on Monday. The stock’s fifty day simple moving average is $32.59 and its 200 day simple moving average is $36.89. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -9.78 and a beta of 0.79. SpringWorks Therapeutics has a one year low of $20.19 and a one year high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.03. The business had revenue of $49.10 million for 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%. SpringWorks Therapeutics’s quarterly revenue was up 4810.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.27) EPS. On average, research analysts anticipate that SpringWorks Therapeutics will post -3.15 earnings per share for the current year.

Institutional Investors Weigh In On SpringWorks Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. raised its position in shares of SpringWorks Therapeutics by 47.9% during the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock worth $45,000 after acquiring an additional 383 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of SpringWorks Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after acquiring an additional 474 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of SpringWorks Therapeutics during the second quarter worth $123,000. Quantbot Technologies LP acquired a new stake in shares of SpringWorks Therapeutics during the third quarter worth $147,000. Finally, Quarry LP grew its stake in shares of SpringWorks Therapeutics by 56.3% during the second quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $188,000 after purchasing an additional 1,800 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.