Barclays analyst Peter Lawson lowered the firm’s price target on SpringsWorks Therapeutics to $41 from $55 and keeps an Overweight rating on the shares. The company is trading close to the downside case at 2.4-times cash, the analyst tells investors in a research note. The firm says SpringsWorks’ cash runway goes into 2026 and it has a "solid catalyst path." Out of an "abundance of caution," it removed the nirogacestat plus BCMA combos from the model.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on SWTX:
- MapKure, SpringWorks, BeiGene present data from Phase 1a/1b study of BGB-3245
- MapKure, SpringWorks and BeiGene Present Clinical Data on BGB-3245, a Selective Next-Generation B-RAF Inhibitor, in Adult Patients with Advanced or Refractory Solid Tumors at the American Association for Cancer Research Annual Meeting 2023
- SpringWorks and BeiGene Present Clinical Data on Lifirafenib, in combination with Mirdametinib, in Patients with Advanced or Refractory Solid Tumors with MAPK Pathway Aberrations at the American Association for Cancer Research Annual Meeting 2023
- SpringWorks Therapeutics Announces New England Journal of Medicine Publication of Phase 3 DeFi Trial Evaluating Nirogacestat in Adults with Desmoid Tumors
- SpringsWorks Therapeutics price target raised to $105 from $99 at H.C. Wainwright