SpringWorks Therapeutics (NASDAQ:SWTX) Issues Earnings Results

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

SpringWorks Therapeutics Price Performance

Shares of NASDAQ SWTX traded up $1.76 during trading on Friday, hitting $45.11. The stock had a trading volume of 1,504,740 shares, compared to its average volume of 935,398. SpringWorks Therapeutics has a 12 month low of $18.00 and a 12 month high of $53.92. The firm has a fifty day moving average of $47.21 and a two-hundred day moving average of $38.54. The company has a market capitalization of $3.33 billion, a PE ratio of -8.78 and a beta of 0.84.

Insider Buying and Selling at SpringWorks Therapeutics

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

Analyst Ratings Changes

Several research analysts recently issued reports on SWTX shares. HC Wainwright increased their target price on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Guggenheim initiated coverage on SpringWorks Therapeutics in a research note on Monday, February 5th. They set a “buy” rating and a $75.00 price target on the stock. Barclays boosted their price objective on SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. upped their target price on SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Finally, Wedbush reissued an “outperform” rating and issued a $75.00 price target (up previously from $70.00) on shares of SpringWorks Therapeutics in a research report on Thursday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price 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.