Barclays Boosts SpringWorks Therapeutics (NASDAQ:SWTX) Price Target to $55.00
SpringWorks Therapeutics (NASDAQ:SWTX) had its target price raised by Barclays from $52.00 to $55.00 in a note issued to investors on Tuesday, The Fly reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 16.45% from the company’s current price.
Several other research analysts have also recently issued reports on the stock. ValuEngine cut shares of SpringWorks Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $58.00 price target on shares of SpringWorks Therapeutics in a report on Thursday, August 6th. Finally, Wedbush reiterated a “buy” rating on shares of SpringWorks Therapeutics in a report on Monday, August 17th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. SpringWorks Therapeutics has an average rating of “Buy” and an average price target of $44.33.
Shares of SpringWorks Therapeutics stock opened at $47.23 on Tuesday. SpringWorks Therapeutics has a 52-week low of $17.02 and a 52-week high of $49.79. The stock has a market capitalization of $2.03 billion and a price-to-earnings ratio of -15.74. The company’s 50 day moving average price is $43.06 and its 200-day moving average price is $36.82.
Large investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in SpringWorks Therapeutics by 19.4% during the first quarter. State Street Corp now owns 173,419 shares of the company’s stock valued at $4,682,000 after buying an additional 28,166 shares during the period. Swiss National Bank purchased a new position in SpringWorks Therapeutics in the 2nd quarter worth about $1,210,000. CIBC Asset Management Inc grew its stake in shares of SpringWorks Therapeutics by 12.5% during the 2nd quarter. CIBC Asset Management Inc now owns 125,161 shares of the company’s stock valued at $5,257,000 after purchasing an additional 13,895 shares during the period. Nuveen Asset Management LLC grew its stake in shares of SpringWorks Therapeutics by 14.8% during the 1st quarter. Nuveen Asset Management LLC now owns 42,742 shares of the company’s stock valued at $1,154,000 after purchasing an additional 5,502 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of SpringWorks Therapeutics by 22.0% during the 1st quarter. Geode Capital Management LLC now owns 160,613 shares of the company’s stock valued at $4,336,000 after purchasing an additional 29,016 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.
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.
Further Reading: What is the price-sales ratio?
Receive News & Ratings for SpringWorks Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SpringWorks Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.