SpringWorks Therapeutics price target raised to $65 from $55 at BofA

BofA analyst Alec Stranahan raised the firm’s price target on SpringWorks Therapeutics (SWTX) to $65 from $55 and keeps a Buy rating on the shares. While the possibility of a potential takeout of SpringWorks has been “an increasing query from investors during our conversations,” the analyst sees Merck KGaA’s (MKGAY) confirmation of “advanced discussions” adding a tailwind to shares ahead of upcoming PDUFA for mirdametinib on February 28. While awaiting further clarity on what “critical conditions” entail for a transaction, the firm remains positive on the market opportunity for both Ogsiveo in desmoid tumors and mirdametinib in NF1-PN, the analyst tells investors.