ValuEngine Downgrades SpringWorks Therapeutics (NASDAQ:SWTX) to Hold

SpringWorks Therapeutics (NASDAQ:SWTX) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday, ValuEngine reports.

A number of other equities analysts also recently commented on SWTX. Barclays restated a “buy” rating on shares of SpringWorks Therapeutics in a research note on Thursday, August 13th. HC Wainwright reiterated a “buy” rating and set a $58.00 price objective on shares of SpringWorks Therapeutics in a research report on Thursday, August 6th. Finally, Wedbush reiterated a “buy” rating on shares of SpringWorks Therapeutics in a research report on Monday, August 17th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $44.33.

Shares of SWTX stock opened at $47.23 on Tuesday. The business has a 50 day moving average of $43.06 and a two-hundred day moving average of $36.82. SpringWorks Therapeutics has a 52 week low of $17.02 and a 52 week high of $49.79. The company has a market cap of $2.03 billion and a P/E ratio of -15.74.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Wednesday, August 12th. The company reported ($0.47) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.11). As a group, analysts anticipate that SpringWorks Therapeutics will post -1.87 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC boosted its position in shares of SpringWorks Therapeutics by 103.7% during the second quarter. Nuveen Asset Management LLC now owns 87,075 shares of the company’s stock worth $3,657,000 after buying an additional 44,333 shares during the period. ArrowMark Colorado Holdings LLC lifted its position in SpringWorks Therapeutics by 89.4% in the second quarter. ArrowMark Colorado Holdings LLC now owns 873,311 shares of the company’s stock worth $36,679,000 after purchasing an additional 412,240 shares during the period. Charles Schwab Investment Management Inc. lifted its position in SpringWorks Therapeutics by 44.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 87,321 shares of the company’s stock worth $3,668,000 after purchasing an additional 27,077 shares during the period. California State Teachers Retirement System lifted its position in SpringWorks Therapeutics by 105.7% in the second quarter. California State Teachers Retirement System now owns 31,947 shares of the company’s stock worth $1,342,000 after purchasing an additional 16,417 shares during the period. Finally, Great West Life Assurance Co. Can acquired a new stake in SpringWorks Therapeutics in the second quarter worth approximately $38,000. 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.

Recommended Story: Market Indexes

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SpringWorks Therapeutics (NASDAQ:SWTX)

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.