SpringWorks Therapeutics (NASDAQ:SWTX) Receives Average Rating of “Strong Buy” from Brokerages

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Shares of SpringWorks Therapeutics (NASDAQ:SWTX) have earned a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy rating.

Brokerages have set a one year consensus price target of $32.50 for the company and are expecting that the company will post ($0.37) earnings per share for the current quarter, according to Zacks. Zacks has also given SpringWorks Therapeutics an industry rank of 60 out of 255 based on the ratings given to its competitors.

A number of research analysts have issued reports on SWTX shares. Cowen started coverage on shares of SpringWorks Therapeutics in a report on Tuesday, October 8th. They issued an “outperform” rating for the company. Goldman Sachs Group began coverage on shares of SpringWorks Therapeutics in a research report on Tuesday, October 8th. They issued a “buy” rating and a $37.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of SpringWorks Therapeutics in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $32.00 price target on the stock. Finally, Wedbush began coverage on shares of SpringWorks Therapeutics in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $33.00 price target on the stock.

In other SpringWorks Therapeutics news, Director Stephen P. Squinto purchased 275,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $4,950,000.00. Also, major shareholder Bain Capital Life Sciences Inv purchased 150,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was acquired at an average price of $18.00 per share, for a total transaction of $2,700,000.00.

Shares of SpringWorks Therapeutics stock opened at $19.50 on Friday. SpringWorks Therapeutics has a 12-month low of $17.02 and a 12-month high of $28.62. The firm has a 50-day moving average of $19.44.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Tuesday, November 12th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($1.30). As a group, equities research analysts anticipate that SpringWorks Therapeutics will post -2.33 EPS for the current year.

About SpringWorks Therapeutics

SpringWorks Therapeutics, Inc, a clinical-stage biopharmaceutical company, acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its advanced product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase 3 clinical trials for the treatment of desmoid tumors.

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