SpringWorks Therapeutics (NASDAQ:SWTX) Issues Earnings Results

SpringWorks Therapeutics (NASDAQ:SWTX) announced its quarterly 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 during the quarter, compared to analyst estimates of $12.07 million. The firm’s revenue 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 midday trading on Friday, hitting $45.11. The company’s stock had a trading volume of 1,495,856 shares, compared to its average volume of 1,126,236. The firm has a 50-day simple moving average of $47.29 and a 200-day simple moving average of $38.39. The firm has a market capitalization of $3.33 billion, a P/E ratio of -8.78 and a beta of 0.84. SpringWorks Therapeutics has a 52-week low of $18.00 and a 52-week high of $53.92.

Insiders Place Their Bets

In related news, insider Daniel Pichl sold 15,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $50.10, for a total transaction 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 approximately $2,265,121.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.61% of the company’s stock.

Wall Street Analyst Weigh In

SWTX has been the topic of a number of recent analyst reports. Guggenheim began coverage on shares of SpringWorks Therapeutics in a research report on Monday, February 5th. They issued a “buy” rating and a $75.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Barclays boosted their target price on SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. HC Wainwright raised their price target on SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $75.00 price objective (up previously from $70.00) on shares of SpringWorks Therapeutics in a report on Thursday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, SpringWorks Therapeutics presently 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.