Springworks Therapeutics ( (SWTX) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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SpringWorks Therapeutics’ stock price has rocketed due to exciting acquisition talks with Merck KGaA and the FDA’s approval of its MEK inhibitor, Gomekli, for treating neurofibromatosis type 1. These developments have sparked investor excitement, highlighting the potential synergies in cancer and rare disease treatments between the two companies. In response, Bank of America has raised its price target, citing the strong market potential of SpringWorks’ drugs, Ogsiveo and mirdametinib, as key drivers of this upward trend.
More about Springworks Therapeutics
YTD Price Performance: 49.67%
Average Trading Volume: 1,722,076
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $3B
For further insights into SWTX stock on TipRanks’ Stock Analysis page.
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