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

Wedbush reaffirmed their outperform rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research note issued to investors on Monday morning,RTT News reports. Wedbush currently has a $77.00 price target on the stock. 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.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of 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 reduced their price objective on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $67.00.

SpringWorks Therapeutics Stock Down 3.0 %

NASDAQ SWTX opened at $36.30 on Monday. The stock has a market capitalization of $2.70 billion, a P/E ratio of -9.36 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 firm has a 50-day moving average price of $32.57 and a 200 day moving average price of $36.89.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates 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 prior year, the company posted ($1.27) EPS. The business’s revenue for the quarter was up 4810.0% on a year-over-year basis. On average, equities research analysts expect that SpringWorks Therapeutics will post -3.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in SpringWorks Therapeutics by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock valued at $53,526,000 after purchasing an additional 109,189 shares during the last quarter. Barclays PLC boosted its stake in shares of SpringWorks Therapeutics by 60.4% during the 3rd quarter. Barclays PLC now owns 155,676 shares of the company’s stock worth $4,987,000 after purchasing an additional 58,645 shares during the last quarter. Main Management ETF Advisors LLC purchased a new stake in shares of SpringWorks Therapeutics during the third quarter worth about $746,000. Wellington Management Group LLP raised its position in shares of SpringWorks Therapeutics by 5.6% in the third quarter. Wellington Management Group LLP now owns 34,994 shares of the company’s stock valued at $1,121,000 after buying an additional 1,853 shares during the last quarter. Finally, Soros Fund Management LLC lifted its stake in shares of SpringWorks Therapeutics by 45.3% during the third quarter. Soros Fund Management LLC now owns 559,321 shares of the company’s stock valued at $17,921,000 after buying an additional 174,321 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.