Wedbush Has Negative Forecast for SWTX FY2024 Earnings

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) – Research analysts at Wedbush decreased their FY2024 earnings estimates for shares of SpringWorks Therapeutics in a research report issued on Tuesday, November 12th. Wedbush analyst D. Nierengarten now anticipates that the company will earn ($3.21) per share for the year, down from their previous forecast of ($3.11). Wedbush 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.

SWTX has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their price target on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. HC Wainwright lowered their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $68.17.

SpringWorks Therapeutics Stock Down 0.3 %

SWTX opened at $36.45 on Friday. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -9.25 and a beta of 0.79. SpringWorks Therapeutics has a twelve month low of $19.61 and a twelve month high of $53.92. The company has a 50-day simple moving average of $32.75 and a 200 day simple moving average of $37.21.

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

Institutional Trading of SpringWorks Therapeutics

A number of large investors have recently bought and sold shares of SWTX. FMR LLC lifted its holdings in shares of SpringWorks Therapeutics by 0.3% in the 3rd quarter. FMR LLC now owns 11,140,946 shares of the company’s stock worth $356,956,000 after purchasing an additional 28,555 shares in the last quarter. Vanguard Group Inc. lifted its stake 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. Price T Rowe Associates Inc. MD grew its holdings in shares of SpringWorks Therapeutics by 48.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock valued at $202,318,000 after buying an additional 1,333,892 shares during the last quarter. Maverick Capital Ltd. increased its position in shares of SpringWorks Therapeutics by 6.8% during the third quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock worth $89,018,000 after acquiring an additional 177,824 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of SpringWorks Therapeutics by 41.4% in the 2nd quarter. Fiera Capital Corp now owns 1,297,302 shares of the company’s stock worth $48,869,000 after acquiring an additional 380,027 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.