SpringWorks Therapeutics (NASDAQ:SWTX) Announces Quarterly Earnings Results

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

SpringWorks Therapeutics Trading Up 4.1 %

Shares of SWTX traded up $1.76 during midday 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 1 year low of $18.00 and a 1 year high of $53.92. The firm’s fifty day moving average is $47.29 and its 200-day moving average is $38.39.

Insider Buying and Selling

In other news, insider Daniel Pichl sold 15,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $50.10, for a total transaction of $751,500.00. Following the sale, the insider now owns 45,212 shares in the company, valued at $2,265,121.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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