Wedbush Equities Analysts Boost Earnings Estimates for SWTX

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) – Equities research analysts at Wedbush upped their FY2024 earnings estimates for shares of SpringWorks Therapeutics in a 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 currently has a “Outperform” rating and a $77.00 target price 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.

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

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

SpringWorks Therapeutics Stock Performance

NASDAQ:SWTX opened at $33.48 on Thursday. The business has a 50 day simple moving average of $37.97 and a 200 day simple moving average of $36.40. SpringWorks Therapeutics has a 12-month low of $28.21 and a 12-month high of $53.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after buying an additional 474 shares during the period. Quantbot Technologies LP purchased a new stake in shares of SpringWorks Therapeutics during the third quarter worth $147,000. Quarry LP boosted its position in SpringWorks Therapeutics by 56.3% during the second quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $188,000 after purchasing an additional 1,800 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in SpringWorks Therapeutics during the fourth quarter valued at $203,000. Finally, Commerce Bank purchased a new position in SpringWorks Therapeutics in the third quarter valued at about $207,000.

Insider Activity

In other news, COO Badreddin Edris sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the transaction, the chief operating officer now owns 209,600 shares in the company, valued at $8,796,912. This represents a 8.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.61% of the company’s stock.

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.