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

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 company had revenue of $21.00 million during the quarter, compared to analyst estimates of $12.07 million. The company’s revenue for the quarter was up 2000.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.18) earnings per share.

SpringWorks Therapeutics Price Performance

Shares of SpringWorks Therapeutics stock opened at $45.11 on Friday. The business has a 50-day moving average of $47.21 and a 200-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. SpringWorks Therapeutics has a 1-year low of $18.00 and a 1-year high of $53.92.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased 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. Barclays increased their price target on 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 price target on SpringWorks Therapeutics from $73.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Guggenheim assumed coverage on SpringWorks Therapeutics in a report on Monday, February 5th. They issued a “buy” rating and a $75.00 price target for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $75.00 price target (up 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, According to MarketBeat.com, SpringWorks Therapeutics has a consensus rating of “Buy” and a consensus target price of $68.83.

Insider Activity

In other news, insider Daniel Pichl sold 15,000 shares of the firm’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 completion of the sale, the insider now directly 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 can be accessed through this hyperlink. Insiders own 7.61% of the company’s stock.

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.