SpringWorks Therapeutics (NASDAQ:SWTX) Announces Quarterly Earnings Results, Beats Estimates By $0.58 EPS

SpringWorks Therapeutics (NASDAQ:SWTX) posted its quarterly earnings results on Wednesday. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.58, Briefing.com reports. The company had revenue of $59.73 million during the quarter, compared to analyst estimates of $34.42 million. During the same quarter in the previous year, the business posted ($1.25) earnings per share. The company’s revenue for the quarter was up 59732900.0% compared to the same quarter last year.

SpringWorks Therapeutics Stock Performance

SWTX traded up $1.48 during midday trading on Friday, reaching $37.41. 673,748 shares of the company were exchanged, compared to its average volume of 989,774. The company has a market cap of $2.77 billion, a price-to-earnings ratio of -6.99 and a beta of 0.78. SpringWorks Therapeutics has a one year low of $18.00 and a one year high of $53.92. The company’s fifty day moving average price is $37.69 and its 200 day moving average price is $43.18.

Wall Street Analysts Forecast Growth

SWTX has been the subject of several research reports. HC Wainwright restated a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday, May 31st. Wedbush reissued an “outperform” rating and issued a $75.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus 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.