SpringWorks Therapeutics (NASDAQ:SWTX) PT Set at $53.00 by Wedbush

SpringWorks Therapeutics (NASDAQ:SWTXGet Rating) has been given a $53.00 price target by equities research analysts at Wedbush in a report released on Monday, Stock Target Advisor reports. Wedbush’s price objective would indicate a potential upside of 142.67% from the stock’s previous close.

SWTX has been the subject of a number of other reports. The Goldman Sachs Group decreased their price target on shares of SpringWorks Therapeutics from $92.00 to $76.00 and set a “buy” rating for the company in a report on Tuesday, May 24th. HC Wainwright dropped their price target on shares of SpringWorks Therapeutics from $142.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, June 6th.

Shares of NASDAQ SWTX traded up $1.37 during trading on Monday, hitting $21.84. The company had a trading volume of 76,918 shares, compared to its average volume of 810,766. The company has a market cap of $1.08 billion, a P/E ratio of -5.18 and a beta of 1.08. SpringWorks Therapeutics has a 52 week low of $13.60 and a 52 week high of $89.75. The business’s 50-day moving average is $35.79 and its 200 day moving average is $51.33.

SpringWorks Therapeutics (NASDAQ:SWTXGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.24). During the same quarter in the prior year, the company earned ($0.62) earnings per share. As a group, equities research analysts expect that SpringWorks Therapeutics will post -5.04 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of SWTX. Norges Bank bought a new position in shares of SpringWorks Therapeutics in the 4th quarter valued at about $35,563,000. Marshall Wace LLP raised its position in shares of SpringWorks Therapeutics by 1,850.5% in the 4th quarter. Marshall Wace LLP now owns 407,519 shares of the company’s stock valued at $25,258,000 after buying an additional 386,626 shares in the last quarter. Bank of America Corp DE raised its position in shares of SpringWorks Therapeutics by 32.9% in the 4th quarter. Bank of America Corp DE now owns 1,514,373 shares of the company’s stock valued at $93,861,000 after buying an additional 374,608 shares in the last quarter. Pictet Asset Management SA increased its position in SpringWorks Therapeutics by 88.5% during the 4th quarter. Pictet Asset Management SA now owns 693,655 shares of the company’s stock worth $42,993,000 after purchasing an additional 325,706 shares in the last quarter. Finally, Fiera Capital Corp increased its position in SpringWorks Therapeutics by 93.5% during the 4th quarter. Fiera Capital Corp now owns 650,413 shares of the company’s stock worth $40,313,000 after purchasing an additional 314,311 shares in the last quarter. Institutional investors and hedge funds own 96.20% of the company’s stock.

About SpringWorks Therapeutics (Get Rating)

SpringWorks Therapeutics, Inc acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase III clinical trial for the treatment of desmoid tumors.

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