SpringWorks Therapeutics (NASDAQ:SWTX) Announces Quarterly Earnings Results

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

SpringWorks Therapeutics Stock Down 1.3 %

Shares of SpringWorks Therapeutics stock opened at $33.10 on Wednesday. SpringWorks Therapeutics has a twelve month low of $18.00 and a twelve month high of $53.92. The firm has a market cap of $2.46 billion, a PE ratio of -7.47 and a beta of 0.79. The business has a 50-day moving average price of $32.95 and a 200 day moving average price of $37.23.

Analysts Set New Price Targets

SWTX has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Wedbush restated an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a report on Thursday, November 7th. Finally, HC Wainwright reduced their price target on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $68.17.

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.