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 analysts’ consensus estimates of ($1.17) by ($0.01), Briefing.com reports. The company had revenue of $21.00 million for the quarter, compared to analyst estimates of $12.07 million. During the same quarter last year, the firm posted ($1.18) EPS. The company’s revenue was up 2000.0% compared to the same quarter last year.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ:SWTX traded up $1.76 during trading on Friday, reaching $45.11. 1,504,740 shares of the company traded hands, compared to its average volume of 935,398. SpringWorks Therapeutics has a 52 week low of $18.00 and a 52 week high of $53.92. The company’s 50 day moving average is $47.29 and its two-hundred day moving average is $38.39.

Insiders Place Their Bets

In related news, insider Daniel Pichl sold 15,000 shares of the company’s stock in a transaction on 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 approximately $2,265,121.20. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 7.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. HC Wainwright lifted their price target on SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Guggenheim assumed coverage on SpringWorks Therapeutics in a research note on Monday, February 5th. They issued a “buy” rating and a $75.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $75.00 price objective (up from $70.00) on shares of SpringWorks Therapeutics in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, Barclays increased their price target 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently 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.