SpringWorks Therapeutics (NASDAQ:SWTX) Coverage Initiated at Evercore ISI

Investment analysts at Evercore ISI began coverage on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $60.00 price target on the stock. Evercore ISI’s price target would suggest a potential upside of 65.29% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised 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. Wedbush reaffirmed an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research report on Monday. Finally, HC Wainwright cut their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $67.00.

SpringWorks Therapeutics Trading Down 3.0 %

Shares of SpringWorks Therapeutics stock opened at $36.30 on Wednesday. The stock’s fifty day simple moving average is $32.57 and its 200 day simple moving average is $36.89. The company has a market capitalization of $2.70 billion, a PE ratio of -9.36 and a beta of 0.79. SpringWorks Therapeutics has a 12 month low of $20.19 and a 12 month high of $53.92.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in shares of SpringWorks Therapeutics by 8.3% during the 1st quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock worth $230,000 after acquiring an additional 358 shares during the last quarter. Sei Investments Co. increased its holdings in shares of SpringWorks Therapeutics by 79.5% in the first quarter. Sei Investments Co. now owns 48,662 shares of the company’s stock valued at $2,395,000 after purchasing an additional 21,558 shares during the last quarter. Vanguard Group Inc. raised its position in shares of 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. American International Group Inc. lifted its stake in shares of SpringWorks Therapeutics by 1.2% during the 1st quarter. American International Group Inc. now owns 33,751 shares of the company’s stock worth $1,661,000 after buying an additional 394 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of SpringWorks Therapeutics by 20.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock worth $220,000 after buying an additional 754 shares during the period.

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.