What is HC Wainwright's Forecast for SWTX FY2024 Earnings?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) - Analysts at HC Wainwright lowered their FY2024 earnings per share (EPS) estimates for shares of SpringWorks Therapeutics in a research report issued to clients and investors on Wednesday, February 12th. HC Wainwright analyst R. Burns now anticipates that the company will post earnings of ($3.14) per share for the year, down from their prior forecast of ($3.03). 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 ($3.04) per share. HC Wainwright also issued estimates for SpringWorks Therapeutics' Q4 2024 earnings at ($0.70) EPS, Q1 2025 earnings at ($0.71) EPS, Q2 2025 earnings at ($0.60) EPS, Q3 2025 earnings at ($0.50) EPS, Q4 2025 earnings at ($0.39) EPS and FY2025 earnings at ($2.20) EPS.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%.

Several other research firms have also recently issued reports on SWTX. Evercore ISI upped their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Guggenheim lowered 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, Wedbush reaffirmed an "outperform" rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research report on Monday, February 10th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, SpringWorks Therapeutics has a consensus rating of "Buy" and an average price target of $70.83.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ:SWTX traded up $4.20 during midday trading on Monday, reaching $59.93. 5,138,899 shares of the company's stock traded hands, compared to its average volume of 2,724,024. SpringWorks Therapeutics has a one year low of $28.21 and a one year high of $62.00. The stock has a 50 day moving average of $40.27 and a 200 day moving average of $37.31. The company has a market cap of $4.46 billion, a price-to-earnings ratio of -15.45 and a beta of 0.81.

Insider Transactions at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 20,000 shares of the company's stock in a transaction 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 transaction, the chief operating officer now owns 209,600 shares of the company's stock, valued at approximately $8,796,912. This represents a 8.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Saqib Islam sold 10,672 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $59.92, for a total value of $639,466.24. Following the sale, 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 313,822 shares of company stock worth $16,802,876 in the last 90 days. 7.61% of the stock is currently owned by insiders.

Institutional Trading of SpringWorks Therapeutics

Hedge funds have recently modified their holdings of the company. Huntington National Bank increased its position in SpringWorks Therapeutics by 38.2% in the fourth quarter. Huntington National Bank now owns 694 shares of the company's stock worth $25,000 after purchasing an additional 192 shares during the last quarter. AlphaQuest LLC increased its position in shares of SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock valued at $36,000 after purchasing an additional 414 shares during the last quarter. State of Wyoming lifted its position in SpringWorks Therapeutics by 39.5% in the fourth quarter. State of Wyoming now owns 1,530 shares of the company's stock worth $55,000 after buying an additional 433 shares during the last quarter. Barclays PLC boosted its stake in SpringWorks Therapeutics by 0.3% during the fourth quarter. Barclays PLC now owns 156,123 shares of the company's stock worth $5,641,000 after buying an additional 447 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in SpringWorks Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company's stock valued at $87,000 after acquiring an additional 474 shares during the last quarter.

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.