SpringWorks Therapeutics (NASDAQ:SWTX) Price Target Lowered to $74.00 at HC Wainwright

SpringWorks Therapeutics (NASDAQ:SWTX) had its target price reduced by HC Wainwright from $76.00 to $74.00 in a report issued on Tuesday,Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for SpringWorks Therapeutics’ Q4 2024 earnings at ($0.59) EPS, FY2024 earnings at ($3.03) EPS, Q1 2025 earnings at ($0.44) EPS, Q2 2025 earnings at ($0.23) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at $0.11 EPS and FY2025 earnings at ($0.65) EPS.

SWTX has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $68.17.

SpringWorks Therapeutics Stock Down 0.3 %

SWTX opened at $36.45 on Tuesday. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -9.39 and a beta of 0.79. The firm’s fifty day simple moving average is $32.70 and its two-hundred day simple moving average is $37.14. SpringWorks Therapeutics has a 52-week low of $19.61 and a 52-week 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, topping the consensus estimate of ($0.76) by $0.04. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The company had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. During the same period in the previous year, the business earned ($1.27) EPS. SpringWorks Therapeutics’s quarterly revenue was up 4810.0% on a year-over-year basis. On average, research analysts forecast that SpringWorks Therapeutics will post -3.17 EPS for the current year.

Institutional Investors Weigh In On SpringWorks Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC purchased a new position in shares of SpringWorks Therapeutics during the 1st quarter worth $114,083,000. Price T Rowe Associates Inc. MD boosted its stake in SpringWorks Therapeutics by 48.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock worth $202,318,000 after buying an additional 1,333,892 shares during the period. Duquesne Family Office LLC acquired a new stake in shares of SpringWorks Therapeutics during the second quarter valued at about $38,475,000. Maverick Capital Ltd. increased its position in shares of SpringWorks Therapeutics by 36.3% during the second quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock valued at $97,962,000 after acquiring an additional 691,894 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of SpringWorks Therapeutics by 8.2% in the 1st quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company’s stock worth $321,373,000 after acquiring an additional 492,783 shares during the last quarter.

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.