SpringWorks Therapeutics (NASDAQ:SWTX) Announces Earnings Results

SpringWorks Therapeutics (NASDAQ:SWTX) released its quarterly earnings results on Thursday. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38), Zacks reports. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%.

SpringWorks Therapeutics Stock Performance

NASDAQ:SWTX traded up $4.82 during midday trading on Thursday, reaching $60.55. 3,020,547 shares of the stock traded hands, compared to its average volume of 2,657,562. The company has a fifty day moving average of $40.27 and a 200 day moving average of $37.31. SpringWorks Therapeutics has a 12 month low of $28.21 and a 12 month high of $62.00. The stock has a market capitalization of $4.50 billion, a P/E ratio of -15.55 and a beta of 0.81.

Insider Activity at SpringWorks Therapeutics

In related news, Director Daniel Lynch sold 175,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the completion of the sale, the director now directly owns 130,944 shares in the company, valued at $7,131,210.24. This represents a 57.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Saqib Islam sold 48,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the transaction, the chief executive officer now directly owns 1,002,502 shares in the company, valued at approximately $53,433,356.60. The trade was a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 313,822 shares of company stock worth $16,802,876 in the last three months. 7.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on SWTX. Wedbush reissued an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, February 10th. HC Wainwright reissued a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Wednesday, February 12th. Evercore ISI boosted their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Guggenheim lowered their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics has a consensus rating of “Buy” and a consensus price target of $70.83.

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.