SpringWorks Therapeutics (NASDAQ:SWTX) Announces Earnings Results

SpringWorks Therapeutics (NASDAQ:SWTX) posted its earnings results on Tuesday. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.04, Briefing.com reports. The business had revenue of $49.10 million for the quarter, compared to analysts’ expectations of $53.28 million. During the same quarter last year, the business posted ($1.27) earnings per share. The business’s revenue was up 4810.0% compared to the same quarter last year.

SpringWorks Therapeutics Price Performance

Shares of SWTX stock opened at $33.25 on Wednesday. The firm has a market cap of $2.47 billion, a P/E ratio of -7.47 and a beta of 0.79. The firm has a fifty day moving average of $32.95 and a two-hundred day moving average of $37.23. SpringWorks Therapeutics has a 1-year low of $19.61 and a 1-year high of $53.92.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SWTX. HC Wainwright reduced their price objective on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $68.17.

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.