HC Wainwright Has Negative Outlook for SWTX FY2024 Earnings

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) – Analysts at HC Wainwright cut their FY2024 earnings per share (EPS) estimates for shares of SpringWorks Therapeutics in a research note issued on Wednesday, February 12th. HC Wainwright analyst R. Burns now expects that the company will post earnings of ($3.14) per share for the year, down from their prior forecast of ($3.03). HC Wainwright has a “Buy” rating and a $74.00 price objective on the stock. The consensus estimate for SpringWorks Therapeutics’ current full-year earnings is ($3.03) per share. HC Wainwright also issued estimates for SpringWorks Therapeutics’ Q4 2024 earnings at ($0.70) EPS, Q1 2025 earnings at ($0.71) EPS, Q2 2025 earnings at ($0.60) EPS, Q3 2025 earnings at ($0.50) EPS, Q4 2025 earnings at ($0.39) EPS and FY2025 earnings at ($2.20) EPS.

Several other equities analysts have also recently issued reports on the company. Guggenheim dropped their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI upped their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Wedbush restated an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday, February 10th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $70.83.

SpringWorks Therapeutics Stock Down 2.0 %

Shares of SWTX stock opened at $57.43 on Monday. The stock has a market capitalization of $4.27 billion, a PE ratio of -14.80 and a beta of 0.81. SpringWorks Therapeutics has a 52-week low of $28.21 and a 52-week high of $60.00. The stock’s 50-day moving average price is $39.35 and its 200 day moving average price is $36.86.

Insider Activity at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.13, for a total value of $1,593,900.00. Following the sale, the chief operating officer now owns 189,712 shares of the company’s stock, valued at approximately $10,079,398.56. This represents a 13.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Lynch sold 175,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.46, for a total value of $9,530,500.00. Following the completion of the sale, the director now directly owns 130,944 shares in the company, valued at approximately $7,131,210.24. The trade was a 57.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 302,750 shares of company stock valued at $16,139,410. 7.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Boxer Capital Management LLC purchased a new position in shares of SpringWorks Therapeutics during the 4th quarter worth $123,620,000. Soros Fund Management LLC lifted its stake in shares of SpringWorks Therapeutics by 7.4% during the 4th quarter. Soros Fund Management LLC now owns 600,470 shares of the company’s stock worth $21,695,000 after purchasing an additional 41,149 shares during the period. Northern Trust Corp lifted its stake in shares of SpringWorks Therapeutics by 8.8% during the 4th quarter. Northern Trust Corp now owns 655,678 shares of the company’s stock worth $23,690,000 after purchasing an additional 52,908 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of SpringWorks Therapeutics by 42.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 407,683 shares of the company’s stock worth $14,730,000 after purchasing an additional 122,128 shares during the period. Finally, Quarry LP lifted its stake in shares of SpringWorks Therapeutics by 66.7% during the 4th quarter. Quarry LP now owns 10,000 shares of the company’s stock worth $361,000 after purchasing an additional 4,000 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.