Analyst Robert Burns of H.C. Wainwright reiterated a Buy rating on Springworks Therapeutics (SWTX – Research Report), with a price target of $64.00.
Robert Burns has given his Buy rating due to a combination of factors surrounding Springworks Therapeutics’s recent developments and achievements. The FDA approval of OGSIVEO (nirogacestat) for treating adult patients with progressing desmoid tumors underpins his positive outlook. This endorsement is significantly bolstered by the results from the Phase 3 DeFi trial, which demonstrated a marked improvement in patient outcomes, including progression-free survival (PFS) benefits and response rates, when compared to a placebo.
Furthermore, Burns contrasts the efficacy of OGSIVEO with that of sorafenib, another treatment for the same condition, noting OGSIVEO’s superior performance in terms of response rates and patient quality of life improvements. He highlights that nirogacestat has shown a more pronounced ORR delta over placebo, has been tested on a more advanced patient population, and, unlike sorafenib, has been associated with significant improvements in pain management and quality of life. These points contribute to his belief that OGSIVEO will become the new standard-of-care for desmoid tumors, thus justifying the Buy rating for Springworks Therapeutics.
Burns covers the Healthcare sector, focusing on stocks such as BioNTech SE, ADC Therapeutics, and Repare Therapeutics. According to TipRanks, Burns has an average return of -37.8% and a 15.40% success rate on recommended stocks.
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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 Stock (NASDAQ:SWTX) Rallies on FDA’s Rare Tumor Drug Approval
- 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
