Goldman Sachs analyst Corinne Jenkins has reiterated their bullish stance on SWTX stock, giving a Buy rating on November 22.
Corinne Jenkins has assigned a Buy rating to Springworks Therapeutics based on a multitude of positive indicators. One primary reason is the recent FDA approval of Ogsiveo (nirogacestat) for desmoid tumors, which came without any significant restrictive labeling such as a black box warning or a Risk Evaluation and Mitigation Strategy (REMS) program for ovarian dysfunction. This approval aligns with top-tier expectations and suggests a smooth pathway for the drug’s market introduction.
Additionally, the drug’s label includes promising patient-reported outcomes on pain improvement, crucial for post-marketing acceptance. Jenkins anticipates a strong market reception, given the high levels of physician awareness and advocacy for the drug, as confirmed through various channel checks and market research conducted by Springworks Therapeutics. The report also notes the company’s dedication to the launch, exemplified by a focused sales force. While further details on pricing and launch plans are pending, the current evidence points to a potentially successful commercialization, justifying the Buy rating.
According to TipRanks, Jenkins is an analyst with an average return of -6.9% and a 43.94% success rate. Jenkins covers the Healthcare sector, focusing on stocks such as Roivant Sciences, Bioxcel Therapeutics, and Harmony Biosciences Holdings.
In another report released on November 22, J.P. Morgan also maintained a Buy rating on the stock with a $58.00 price target.
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Springworks Therapeutics (SWTX) Company Description:
Springworks Therapeutics, Inc. operates as a clinical-stage biopharmaceutical company. It identifies pathways for drug development for patients with severe rare diseases and cancer. The firm’s products include Nirogacestat, Mirdametinib and BGB-3245. The company was founded in August 2017 and is headquartered in Stamford, CT.
Read More on SWTX:
- SpringWorks Therapeutics Announces FDA Approval of OGSIVEO™ (nirogacestat) as the First and Only Treatment for Adults with Desmoid Tumors
- SpringWorks Therapeutics price target raised to $58 from $55 at JPMorgan
- SpringWorks price target lowered to $52 from $58 at H.C. Wainwright
- SpringWorks Therapeutics Announces Positive Topline Results from the Phase 2b ReNeu Trial of Mirdametinib in NF1-PN
- SpringWorks Therapeutics’ mirdametinib shows efficacy in Phase 2b NF1-PN trial
