SpringWorks Therapeutics (NASDAQ:SWTX) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

SpringWorks Therapeutics (NASDAQ:SWTX) announced 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 company had revenue of $21.00 million for the quarter, compared to analysts’ expectations of $12.07 million. The business’s revenue was up 2000.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.18) EPS.

SpringWorks Therapeutics Stock Performance

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

Insider Transactions at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 15,000 shares of the firm’s stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 7.61% of the company’s stock.

Analysts Set New Price Targets

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