SpringWorks Therapeutics (NASDAQ:SWTX) Announces Earnings Results

SpringWorks Therapeutics (NASDAQ:SWTX) announced its earnings results on Thursday. The company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.01), Briefing.com reports. The firm had revenue of $21.00 million for the quarter, compared to the consensus estimate of $12.07 million. During the same period in the prior year, the company posted ($1.18) EPS. SpringWorks Therapeutics’s revenue was up 2000.0% compared to the same quarter last year.

SpringWorks Therapeutics Stock Performance

NASDAQ SWTX 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 stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of -8.78 and a beta of 0.84. SpringWorks Therapeutics has a 12-month low of $18.00 and a 12-month high of $53.92. The business has a 50 day moving average of $47.29 and a 200-day moving average of $38.39.

Insider Transactions at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 15,000 shares of the company’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 transaction of $751,500.00. Following the sale, the insider now directly owns 45,212 shares in the company, valued at approximately $2,265,121.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.61% of the company’s stock.

Analyst Ratings Changes

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

About SpringWorks Therapeutics

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.