Evercore ISI Begins Coverage on SpringWorks Therapeutics (NASDAQ:SWTX)

Evercore ISI began coverage on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $60.00 price target on the stock.

Other equities analysts also recently issued research reports about the stock. HC Wainwright dropped their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Wedbush restated an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Finally, 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 note on Wednesday, September 4th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $67.00.

SpringWorks Therapeutics Stock Up 7.5 %

Shares of NASDAQ SWTX opened at $39.02 on Wednesday. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of -10.06 and a beta of 0.79. SpringWorks Therapeutics has a 52-week low of $20.19 and a 52-week high of $53.92. The business’s 50 day moving average is $32.60 and its two-hundred day moving average is $36.78.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.03. The business had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The company’s quarterly revenue was up 4810.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.27) earnings per share. Analysts anticipate that SpringWorks Therapeutics will post -3.14 EPS for the current fiscal year.

Hedge Funds Weigh In On SpringWorks Therapeutics

Several large investors have recently bought and sold shares of SWTX. Price T Rowe Associates Inc. MD raised its holdings in shares of SpringWorks Therapeutics by 48.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock valued at $202,318,000 after buying an additional 1,333,892 shares during the last quarter. Duquesne Family Office LLC purchased a new stake in shares of SpringWorks Therapeutics in the second quarter valued at about $38,475,000. Maverick Capital Ltd. lifted its position in SpringWorks Therapeutics by 36.3% in the second quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock valued at $97,962,000 after purchasing an additional 691,894 shares during the period. Vanguard Group Inc. lifted 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 valued at $321,373,000 after purchasing an additional 492,783 shares during the period. Finally, Principal Financial Group Inc. lifted its position in SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after purchasing an additional 464,903 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.