FY2024 Earnings Forecast for SWTX Issued By HC Wainwright

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) - HC Wainwright dropped their FY2024 EPS estimates for shares of SpringWorks Therapeutics in a report released on Tuesday, November 12th. HC Wainwright analyst R. Burns now expects that the company will post earnings of ($3.03) per share for the year, down from their prior forecast of ($2.83). HC Wainwright has a "Buy" rating and a $74.00 price objective on the stock. The consensus estimate for SpringWorks Therapeutics' current full-year earnings is ($3.17) per share. HC Wainwright also issued estimates for SpringWorks Therapeutics' Q4 2024 earnings at ($0.59) EPS, Q1 2025 earnings at ($0.44) EPS, Q2 2025 earnings at ($0.23) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at $0.11 EPS and FY2025 earnings at ($0.65) EPS.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping analysts' consensus estimates of ($0.76) by $0.04. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The business had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. During the same period in the previous year, the firm earned ($1.27) EPS. The business's revenue for the quarter was up 4810.0% on a year-over-year basis.

Several other analysts also recently commented on the stock. Wedbush reissued an "outperform" rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 4th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics has an average rating of "Buy" and an average price target of $68.17.

SpringWorks Therapeutics Price Performance

SWTX traded down $0.10 on Friday, reaching $36.45. 3,815,014 shares of the company traded hands, compared to its average volume of 996,201. The stock's 50 day moving average price is $32.75 and its 200-day moving average price is $37.21. SpringWorks Therapeutics has a 52-week low of $19.61 and a 52-week high of $53.92. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -9.25 and a beta of 0.79.

Institutional Trading of SpringWorks Therapeutics

Hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its holdings in shares of SpringWorks Therapeutics by 47.9% in the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company's stock valued at $45,000 after purchasing an additional 383 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company's stock valued at $87,000 after purchasing an additional 474 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of SpringWorks Therapeutics in the second quarter valued at approximately $123,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of SpringWorks Therapeutics by 20.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company's stock valued at $220,000 after purchasing an additional 754 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of SpringWorks Therapeutics in the third quarter valued at approximately $147,000.

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.