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

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

SpringWorks Therapeutics Price Performance

Shares of NASDAQ SWTX opened at $36.55 on Friday. The business has a 50-day moving average price of $32.82 and a 200 day moving average price of $37.21. SpringWorks Therapeutics has a 52-week low of $19.61 and a 52-week high of $53.92.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. 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 report on Tuesday. Finally, Wedbush reiterated an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a report on Thursday, November 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics has an average rating of “Buy” and an average price target of $68.17.

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.