SpringWorks Therapeutics (NASDAQ:SWTX) Announces Earnings Results, Misses Estimates By $0.38 EPS

SpringWorks Therapeutics (NASDAQ:SWTX) announced its quarterly earnings results on Thursday. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38), Zacks reports. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%.

SpringWorks Therapeutics Stock Up 8.7 %

SWTX stock traded up $4.86 during trading on Thursday, hitting $60.59. 2,926,374 shares of the company’s stock traded hands, compared to its average volume of 2,654,943. The firm has a market capitalization of $4.51 billion, a P/E ratio of -15.53 and a beta of 0.81. The business has a fifty day simple moving average of $40.27 and a two-hundred day simple moving average of $37.31. SpringWorks Therapeutics has a 1 year low of $28.21 and a 1 year high of $62.00.

Insider Activity at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total transaction of $839,400.00. Following the completion of the transaction, the chief operating officer now directly owns 209,600 shares in the company, valued at $8,796,912. The trade was a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Saqib Islam sold 48,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the sale, the chief executive officer now directly owns 1,002,502 shares of the company’s stock, valued at $53,433,356.60. This represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 313,822 shares of company stock valued at $16,802,876 over the last ninety days. 7.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on SWTX shares. Wedbush reissued an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, February 10th. Evercore ISI upped their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. HC Wainwright restated a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Wednesday, February 12th. Finally, Guggenheim decreased their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SpringWorks Therapeutics has an average rating of “Buy” and an average price target of $70.83.

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.