Q2 2024 EPS Estimates for SpringWorks Therapeutics, Inc. Raised by HC Wainwright (NASDAQ:SWTX)

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) – Analysts at HC Wainwright raised their Q2 2024 earnings estimates for SpringWorks Therapeutics in a research report issued on Monday, May 6th. HC Wainwright analyst R. Burns now expects that the company will post earnings per share of ($0.99) for the quarter, up from their prior forecast of ($1.01). HC Wainwright currently has a “Buy” rating and a $74.00 target price on the stock. The consensus estimate for SpringWorks Therapeutics’ current full-year earnings is ($4.75) per share. HC Wainwright also issued estimates for SpringWorks Therapeutics’ Q3 2024 earnings at ($0.89) EPS, Q4 2024 earnings at ($0.80) EPS and FY2024 earnings at ($3.86) EPS.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Thursday, May 2nd. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.01). The company had revenue of $21.00 million for the quarter, compared to analyst estimates of $12.07 million. During the same quarter in the prior year, the business earned ($1.18) earnings per share. The company’s revenue for the quarter was up 2000.0% compared to the same quarter last year.

SWTX has been the topic of a number of other research reports. Wedbush reiterated an “outperform” rating and set a $75.00 price target (up previously from $70.00) on shares of SpringWorks Therapeutics in a research note on Thursday, May 2nd. Guggenheim began coverage on shares of SpringWorks Therapeutics in a research note on Monday, February 5th. They set a “buy” rating and a $75.00 price target on the stock. Barclays lifted their price target on shares of SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $68.83.

SpringWorks Therapeutics Price Performance

SWTX opened at $42.26 on Thursday. SpringWorks Therapeutics has a fifty-two week low of $18.00 and a fifty-two week high of $53.92. The firm’s fifty day moving average price is $47.04 and its two-hundred day moving average price is $39.09. The company has a market capitalization of $3.13 billion, a P/E ratio of -8.22 and a beta of 0.84.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in SpringWorks Therapeutics by 8.3% during the 1st quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock worth $230,000 after buying an additional 358 shares in the last quarter. Teacher Retirement System of Texas lifted its position in SpringWorks Therapeutics by 4.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 9,770 shares of the company’s stock worth $226,000 after buying an additional 441 shares in the last quarter. Swiss National Bank lifted its position in SpringWorks Therapeutics by 0.9% during the 3rd quarter. Swiss National Bank now owns 75,600 shares of the company’s stock worth $1,748,000 after buying an additional 700 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in SpringWorks Therapeutics by 96.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,612 shares of the company’s stock worth $37,000 after purchasing an additional 792 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in SpringWorks Therapeutics by 9.1% during the 4th quarter. Amalgamated Bank now owns 9,666 shares of the company’s stock worth $353,000 after purchasing an additional 805 shares during the last quarter.

Insider Activity

In other news, insider Daniel Pichl sold 15,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $50.10, for a total value of $751,500.00. Following the sale, the insider now owns 45,212 shares in the company, valued at approximately $2,265,121.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.61% of the stock is owned by corporate insiders.

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.