SpringWorks Therapeutics (SWTX, Financial) experienced a notable change in its stock assessment as Wedbush downgraded its rating from "Outperform" to "Neutral." This adjustment comes in the wake of a definitive agreement reached between SpringWorks and Merck KGaA, under which Merck KGaA will acquire SpringWorks.
The acquisition deal stipulates that Merck KGaA will purchase SpringWorks for a price of $47 per share, all in cash. This strategic move is part of Merck KGaA's ongoing efforts to expand its portfolio in the therapeutic space.
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 62.12% from the current price of $44.72. More detailed estimate data can be found on the SpringWorks Therapeutics Inc (SWTX) Forecast page.
Based on the consensus recommendation from 6 brokerage firms, SpringWorks Therapeutics Inc's (SWTX, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
