SpringWorks Therapeutics (NASDAQ:SWTX) Releases Earnings Results, Beats Expectations By $0.03 EPS

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.75) by $0.03, Briefing.com reports. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The firm had revenue of $49.10 million during the quarter, compared to analysts' expectations of $53.28 million. During the same period in the previous year, the firm earned ($1.27) earnings per share. The company's revenue was up 4810.0% on a year-over-year basis.

SpringWorks Therapeutics Price Performance

NASDAQ SWTX traded down $0.10 during trading hours on Friday, reaching $36.45. 3,815,016 shares of the company's stock traded hands, compared to its average volume of 996,201. The firm has a 50-day simple moving average of $32.70 and a 200 day simple moving average of $37.14. The firm has a market cap of $2.71 billion, a PE ratio of -9.39 and a beta of 0.79. SpringWorks Therapeutics has a 52-week low of $19.61 and a 52-week high of $53.92.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SWTX. Wedbush reissued an "outperform" rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research report on Thursday, November 7th. HC Wainwright decreased their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their price objective on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, September 4th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $68.17.

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.