Wedbush Equities Analysts Lower Earnings Estimates for SWTX

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) – Investment analysts at Wedbush reduced their FY2024 earnings estimates for SpringWorks Therapeutics in a research report issued to clients and investors on Tuesday, November 12th. Wedbush analyst D. Nierengarten now expects that the company will earn ($3.21) per share for the year, down from their prior estimate of ($3.11). Wedbush currently has a “Outperform” rating and a $77.00 price objective on the stock. The consensus estimate for SpringWorks Therapeutics’ current full-year earnings is ($3.17) per share. Wedbush also issued estimates for SpringWorks Therapeutics’ Q4 2024 earnings at ($0.76) EPS, Q1 2025 earnings at ($0.75) EPS, Q2 2025 earnings at ($0.71) EPS, Q3 2025 earnings at ($0.60) EPS, Q4 2025 earnings at ($0.46) EPS, FY2025 earnings at ($2.51) EPS, FY2026 earnings at $0.14 EPS and FY2027 earnings at $3.47 EPS.

Several other brokerages have also commented on SWTX. JPMorgan Chase & Co. raised their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. HC Wainwright lowered their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, SpringWorks Therapeutics currently has an average rating of “Buy” and an average price target of $68.17.

SpringWorks Therapeutics Trading Up 5.3 %

Shares of NASDAQ:SWTX opened at $36.55 on Friday. The company’s 50-day moving average price is $32.82 and its 200 day moving average price is $37.21. SpringWorks Therapeutics has a fifty-two week low of $19.61 and a fifty-two week high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.04. The company had revenue of $49.10 million for the quarter, compared to analysts’ expectations of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The firm’s quarterly revenue was up 4810.0% compared to the same quarter last year. During the same period last year, the business posted ($1.27) earnings per share.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SWTX. Price T Rowe Associates Inc. MD boosted its position in shares of SpringWorks Therapeutics by 48.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock valued at $202,318,000 after purchasing an additional 1,333,892 shares in the last quarter. Duquesne Family Office LLC bought a new stake in SpringWorks Therapeutics during the second quarter worth approximately $38,475,000. Maverick Capital Ltd. grew its position in SpringWorks Therapeutics by 36.3% in the second quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock worth $97,962,000 after buying an additional 691,894 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of SpringWorks Therapeutics by 8.2% in the first quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company’s stock valued at $321,373,000 after buying an additional 492,783 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of SpringWorks Therapeutics by 102.5% during the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after acquiring an additional 464,903 shares during the last quarter.

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.