What is Wedbush's Forecast for SWTX FY2024 Earnings?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) - Equities researchers at Wedbush upped their FY2024 earnings estimates for SpringWorks Therapeutics in a report issued on Monday, January 13th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings per share of ($3.18) for the year, up from their prior forecast of ($3.21). Wedbush currently has a "Outperform" rating and a $77.00 price target on the stock. The consensus estimate for SpringWorks Therapeutics' current full-year earnings is ($3.12) per share. Wedbush also issued estimates for SpringWorks Therapeutics' Q4 2024 earnings at ($0.73) EPS.

Several other analysts have also issued reports on the company. Evercore ISI began coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They set an "outperform" rating and a $60.00 price objective for the company. HC Wainwright decreased their price objective on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. Finally, Guggenheim lowered their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $70.00.

SpringWorks Therapeutics Trading Up 6.3 %

NASDAQ:SWTX traded up $2.11 during trading hours on Thursday, hitting $35.59. 1,402,650 shares of the stock traded hands, compared to its average volume of 2,212,875. The firm has a 50 day moving average price of $37.98 and a 200 day moving average price of $36.38. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -9.17 and a beta of 0.82. SpringWorks Therapeutics has a fifty-two week low of $28.21 and a fifty-two week high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.03. The business had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The company's revenue was up 4810.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.27) earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. grew its stake in shares of SpringWorks Therapeutics by 40.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,568 shares of the company's stock valued at $511,000 after purchasing an additional 3,892 shares during the period. Envestnet Asset Management Inc. boosted its stake in SpringWorks Therapeutics by 56.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 112,426 shares of the company's stock valued at $4,235,000 after buying an additional 40,781 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in SpringWorks Therapeutics by 14.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 535,083 shares of the company's stock valued at $20,157,000 after acquiring an additional 69,227 shares during the period. Mutual of America Capital Management LLC grew its position in SpringWorks Therapeutics by 41.4% in the second quarter. Mutual of America Capital Management LLC now owns 116,915 shares of the company's stock valued at $4,404,000 after acquiring an additional 34,260 shares during the period. Finally, E Fund Management Co. Ltd. raised its stake in SpringWorks Therapeutics by 11.6% during the second quarter. E Fund Management Co. Ltd. now owns 9,467 shares of the company's stock worth $357,000 after acquiring an additional 981 shares in the last quarter.

Insider Activity

In other news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total transaction of $839,400.00. Following the sale, the chief operating officer now directly owns 209,600 shares in the company, valued at approximately $8,796,912. The trade was a 8.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.61% of the stock is currently owned by company 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.