Bank of America has opted to shift its stance on SpringWorks Therapeutics (SWTX, Financial) to a "No Rating" position. This decision comes as the biotech firm's stock price aligns closely with the potential acquisition offer from Merck KGaA, set at $47 per share. This pricing suggests that SWTX shares are currently not being driven by fundamental business performance, according to the latest analysis.
The potential $47 per share acquisition offer is seen as a recognition of the market potential for SpringWorks Therapeutics' key pipeline candidates, Gomekli and Ogsiveo. Although some may view this price as falling short of expectations, it nonetheless underscores the promising market opportunities these therapies represent.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 8 analysts, the average target price for SpringWorks Therapeutics Inc (SWTX, Financial) is $72.50 with a high estimate of $84.00 and a low estimate of $63.00. The average target implies an upside of 62.34% from the current price of $44.66. More detailed estimate data can be found on the SpringWorks Therapeutics Inc (SWTX) Forecast page.
Based on the consensus recommendation from 7 brokerage firms, SpringWorks Therapeutics Inc's (SWTX, Financial) average brokerage recommendation is currently 1.7, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
