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

SpringWorks Therapeutics (NASDAQ:SWTX) released its quarterly earnings results on Thursday. The company reported ($1.04) earnings per share 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 Price Performance

Shares of SWTX traded up $4.82 during trading hours on Thursday, hitting $60.55. The company’s stock had a trading volume of 3,020,547 shares, compared to its average volume of 2,657,562. The company has a market cap of $4.50 billion, a price-to-earnings ratio of -15.55 and a beta of 0.81. The business has a 50 day simple moving average of $40.27 and a two-hundred day simple moving average of $37.31. SpringWorks Therapeutics has a 52-week low of $28.21 and a 52-week high of $62.00.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SWTX. Evercore ISI lifted their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research report on Monday, February 10th. HC Wainwright reaffirmed a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Wednesday, February 12th. Finally, Guggenheim lowered their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $70.83.

Insider Transactions at SpringWorks Therapeutics

In other news, CEO Saqib Islam sold 10,672 shares of SpringWorks Therapeutics stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $59.92, for a total value of $639,466.24. Following the completion of the transaction, the chief executive officer now owns 1,063,953 shares in the company, valued at $63,752,063.76. This trade represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction dated Tuesday, December 3rd. The stock was 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 owns 209,600 shares of the company’s stock, valued at $8,796,912. The trade was a 8.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 313,822 shares of company stock worth $16,802,876 over the last quarter. Corporate 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.