SpringWorks Therapeutics (NASDAQ:SWTX) Releases Earnings Results, Misses Estimates By $0.01 EPS

SpringWorks Therapeutics (NASDAQ:SWTX) issued its earnings results on Thursday. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.01), Briefing.com reports. The firm had revenue of $21.00 million for the quarter, compared to analyst estimates of $12.07 million. The business’s revenue for the quarter was up 2000.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.18) earnings per share.

SpringWorks Therapeutics Stock Up 4.1 %

SWTX stock traded up $1.76 during trading on Friday, hitting $45.11. 1,495,856 shares of the company’s stock traded hands, compared to its average volume of 1,126,236. The firm has a market capitalization of $3.33 billion, a P/E ratio of -8.78 and a beta of 0.84. The business has a fifty day simple moving average of $47.29 and a two-hundred day simple moving average of $38.39. SpringWorks Therapeutics has a 1 year low of $18.00 and a 1 year high of $53.92.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SWTX shares. Guggenheim started coverage on shares of SpringWorks Therapeutics in a research report on Monday, February 5th. They set a “buy” rating and a $75.00 target price on the stock. HC Wainwright raised their target price on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Barclays raised their target price on shares of SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. lifted their price objective on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Finally, Wedbush reissued an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of SpringWorks Therapeutics in a report on Thursday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $68.83.

Insider Activity at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $50.10, for a total value of $751,500.00. Following the completion of the sale, the insider now directly owns 45,212 shares in the company, valued at $2,265,121.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 7.61% of the stock is currently owned by corporate insiders.

SpringWorks Therapeutics Company Profile

SpringWorks Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is OGSIVEO (nirogacestat), an oral small molecule gamma secretase inhibitor that is in Phase III DeFi trial for the treatment of desmoid tumors; and Nirogacestat, is also in Phase 2 clinical development as a monotherapy for the treatment of ovarian granulosa cell tumors (GCT), a subtype of ovarian cancer.