SpringWorks Therapeutics (NASDAQ:SWTX) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

SpringWorks Therapeutics (NASDAQ:SWTX) announced its quarterly earnings data on Tuesday. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.04, Briefing.com reports. The firm had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The firm’s revenue was up 4810.0% compared to the same quarter last year. During the same quarter last year, the business posted ($1.27) earnings per share.

SpringWorks Therapeutics Trading Up 5.3 %

SWTX stock opened at $36.55 on Friday. The business’s fifty day moving average price is $32.82 and its 200 day moving average price is $37.21. SpringWorks Therapeutics has a 12-month low of $19.61 and a 12-month high of $53.92.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SWTX. HC Wainwright reduced their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday. Wedbush reiterated an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics presently has an average rating of “Buy” and a consensus target price 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.