SpringWorks Therapeutics (NASDAQ:SWTX) Announces Earnings Results, Misses Estimates By $0.38 EPS

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

SpringWorks Therapeutics Stock Up 7.5 %

SWTX stock opened at $59.93 on Friday. The firm’s 50 day moving average price is $40.70 and its 200-day moving average price is $37.47. SpringWorks Therapeutics has a one year low of $28.21 and a one year high of $62.00.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SWTX shares. Evercore ISI raised their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Guggenheim decreased 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. HC Wainwright reissued a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Wednesday, February 12th. Finally, Wedbush reissued an “outperform” rating and issued a $81.00 target price on shares of SpringWorks Therapeutics in a research note on Thursday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $71.50.

Insider Activity

In related news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the sale, the chief operating officer now owns 209,600 shares in the company, valued at approximately $8,796,912. This trade represents a 8.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Saqib Islam sold 48,000 shares of SpringWorks Therapeutics stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 1,002,502 shares of the company’s stock, valued at $53,433,356.60. This trade represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 313,822 shares of company stock valued at $16,802,876. 7.61% of the stock is currently owned by company insiders.

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.