Equities Analysts Set Expectations for SWTX FY2024 Earnings

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) – Analysts at Wedbush boosted their FY2024 earnings per share (EPS) estimates for shares of SpringWorks Therapeutics in a research report issued on Monday, January 13th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings of ($3.18) per share for the year, up from their previous estimate of ($3.21). 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 ($3.12) per share. Wedbush also issued estimates for SpringWorks Therapeutics’ Q4 2024 earnings at ($0.73) EPS.

SWTX has been the topic of a number of other reports. HC Wainwright lowered their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Guggenheim lowered their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Evercore ISI assumed coverage on SpringWorks Therapeutics in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price target for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $70.00.

SpringWorks Therapeutics Stock Performance

NASDAQ SWTX opened at $35.59 on Thursday. The firm has a market capitalization of $2.65 billion, a P/E ratio of -9.17 and a beta of 0.82. The stock has a 50-day simple moving average of $37.98 and a two-hundred day simple moving average of $36.38. SpringWorks Therapeutics has a fifty-two week low of $28.21 and a fifty-two week high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.03. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The company had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. During the same period last year, the firm posted ($1.27) EPS. SpringWorks Therapeutics’s revenue for the quarter was up 4810.0% compared to the same quarter last year.

Insider Activity

In other news, COO Badreddin Edris sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total value of $839,400.00. Following the transaction, the chief operating officer now directly owns 209,600 shares of the company’s stock, valued at approximately $8,796,912. This trade represents a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 7.61% of the company’s stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of large investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. boosted its stake in SpringWorks Therapeutics by 40.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 13,568 shares of the company’s stock worth $511,000 after buying an additional 3,892 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of SpringWorks Therapeutics by 56.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 112,426 shares of the company’s stock worth $4,235,000 after acquiring an additional 40,781 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of SpringWorks Therapeutics by 14.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 535,083 shares of the company’s stock worth $20,157,000 after acquiring an additional 69,227 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of SpringWorks Therapeutics by 41.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 116,915 shares of the company’s stock valued at $4,404,000 after acquiring an additional 34,260 shares during the last quarter. Finally, E Fund Management Co. Ltd. grew its holdings in shares of SpringWorks Therapeutics by 11.6% in the second quarter. E Fund Management Co. Ltd. now owns 9,467 shares of the company’s stock valued at $357,000 after purchasing an additional 981 shares during the period.

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.