SpringWorks Therapeutics (NASDAQ:SWTX) Announces Earnings Results

SpringWorks Therapeutics (NASDAQ:SWTX) announced its earnings results on Wednesday. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.58, Briefing.com reports. The business had revenue of $59.73 million for the quarter, compared to the consensus estimate of $34.42 million. During the same period in the prior year, the business posted ($1.25) EPS. SpringWorks Therapeutics’s revenue for the quarter was up 59732900.0% on a year-over-year basis.

SpringWorks Therapeutics Trading Up 4.1 %

SWTX traded up $1.48 during trading on Friday, hitting $37.41. 673,748 shares of the company’s stock traded hands, compared to its average volume of 989,774. SpringWorks Therapeutics has a 12-month low of $18.00 and a 12-month high of $53.92. The company’s 50 day simple moving average is $37.69 and its two-hundred day simple moving average is $43.18. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -6.99 and a beta of 0.78.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SWTX. HC Wainwright reaffirmed a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Friday, May 31st. Wedbush restated an “outperform” rating and set a $75.00 price target on shares of SpringWorks Therapeutics in a report on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $68.83.

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.