SpringWorks Therapeutics (NASDAQ:SWTX) Trading Up 8.1% – Should You Buy?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) shot up 8.1% during mid-day trading on Friday . The company traded as high as $39.31 and last traded at $39.23. 479,566 shares traded hands during trading, a decline of 52% from the average session volume of 998,040 shares. The stock had previously closed at $36.30.

Analyst Upgrades and Downgrades

Several analysts have commented on SWTX shares. Wedbush reaffirmed an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Evercore ISI began coverage on SpringWorks Therapeutics in a research report on Wednesday. They issued an “outperform” rating and a $60.00 price objective for the company. HC Wainwright reduced their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. raised their price target on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $67.00.

SpringWorks Therapeutics Trading Up 7.5 %

The company has a market capitalization of $2.90 billion, a PE ratio of -10.06 and a beta of 0.79. The company’s 50 day moving average price is $32.60 and its 200-day moving average price is $36.78.

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

Institutional Trading of SpringWorks Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in SpringWorks Therapeutics by 0.3% during the third quarter. FMR LLC now owns 11,140,946 shares of the company’s stock worth $356,956,000 after buying an additional 28,555 shares during the period. Vanguard Group Inc. lifted its holdings in shares of SpringWorks Therapeutics by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company’s stock valued at $321,373,000 after acquiring an additional 492,783 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in SpringWorks Therapeutics by 48.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock worth $202,318,000 after purchasing an additional 1,333,892 shares during the period. Maverick Capital Ltd. increased its holdings in SpringWorks Therapeutics by 6.8% in the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock valued at $89,018,000 after purchasing an additional 177,824 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in SpringWorks Therapeutics by 7.0% in the third 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 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.