Robert Burns, an analyst from H.C. Wainwright, reiterated the Buy rating on Springworks Therapeutics (SWTX – Research Report). The associated price target is $74.00.
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Robert Burns has given his Buy rating due to a combination of factors surrounding Springworks Therapeutics. The recent FDA approval of GOMEKLI (mirdametinib) for treating neurofibromatosis type 1-associated plexiform neurofibromas in both adults and children is a significant milestone. This approval was supported by positive results from the Phase 2b ReNeu trial, where GOMEKLI demonstrated strong efficacy with a notable objective response rate and improvements in patient-reported outcomes such as pain and quality of life.
Additionally, the product’s superior clinical profile compared to its competitor, Koselugo, enhances its market potential. Furthermore, the company received a Priority Review Voucher due to GOMEKLI’s Rare Pediatric Disease Designation, which adds a substantial financial upside. These factors contribute to the confidence in the stock’s potential growth, supporting the Buy rating and a 12-month price target of $74.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $63.00 price target.