SpringWorks Therapeutics (NASDAQ:SWTX) Releases Earnings Results

SpringWorks Therapeutics (NASDAQ:SWTX) issued its 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 for the quarter, compared to the consensus estimate of $12.07 million. The firm’s revenue for the quarter was up 2000.0% on a year-over-year basis. During the same period in the prior year, the business earned ($1.18) earnings per share.

SpringWorks Therapeutics Trading Up 4.1 %

SWTX stock opened at $45.11 on Friday. SpringWorks Therapeutics has a 1 year low of $18.00 and a 1 year high of $53.92. The company has a fifty day simple moving average of $47.21 and a 200 day simple moving average of $38.54. The firm has a market cap of $3.33 billion, a PE ratio of -8.78 and a beta of 0.84.

Insider Activity at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 15,000 shares of SpringWorks Therapeutics stock in a transaction 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 owns 45,212 shares of the company’s stock, valued at approximately $2,265,121.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Guggenheim assumed coverage on shares of SpringWorks Therapeutics in a research note on Monday, February 5th. They set a “buy” rating and a $75.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. HC Wainwright lifted their target price on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Barclays lifted their target price on shares of SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $75.00 price objective (up previously from $70.00) on shares of SpringWorks Therapeutics in a research note on Thursday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics has a consensus rating of “Buy” and an average 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.