SpringWorks Therapeutics (NASDAQ:SWTX) Issues Earnings Results

SpringWorks Therapeutics (NASDAQ:SWTX) released its earnings results on Thursday. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38), Zacks reports. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The business had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ SWTX opened at $58.29 on Friday. SpringWorks Therapeutics has a 52 week low of $28.21 and a 52 week high of $62.00. The stock’s fifty day moving average is $41.10 and its 200 day moving average is $37.64.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SWTX. Evercore ISI increased their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Guggenheim lowered their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. HC Wainwright reissued a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday. Finally, Wedbush reissued an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research note on Thursday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $71.50.

Insider Buying and Selling at SpringWorks Therapeutics

In other news, insider Daniel Pichl sold 29,750 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the sale, the insider now directly owns 50,762 shares in the company, valued at approximately $2,759,422.32. The trade was a 36.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Saqib Islam sold 10,672 shares of SpringWorks Therapeutics stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $59.92, for a total value of $639,466.24. Following the completion of the transaction, the chief executive officer now directly owns 1,063,953 shares in the company, valued at approximately $63,752,063.76. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 313,822 shares of company stock worth $16,802,876 over the last 90 days. 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.