Research Analysts Issue Forecasts for SWTX FY2024 Earnings

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) – Investment analysts at HC Wainwright cut their FY2024 earnings per share estimates for shares of SpringWorks Therapeutics in a research note issued 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 previous forecast of ($2.83). 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 ($3.17) 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) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.03. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The company had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. During the same period last year, the business posted ($1.27) earnings per share. The firm’s revenue was up 4810.0% compared to the same quarter last year.

A number of other equities research analysts also recently weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $68.17.

SpringWorks Therapeutics Stock Performance

NASDAQ SWTX opened at $36.45 on Friday. The firm has a 50-day simple moving average of $32.70 and a 200 day simple moving average of $37.07. SpringWorks Therapeutics has a twelve month low of $19.61 and a twelve month high of $53.92. The stock has a market cap of $2.71 billion, a PE ratio of -9.39 and a beta of 0.79.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in SpringWorks Therapeutics by 7.0% in the third quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock valued at $53,526,000 after acquiring an additional 109,189 shares during the last quarter. Barclays PLC boosted its stake in shares of SpringWorks Therapeutics by 60.4% in the 3rd quarter. Barclays PLC now owns 155,676 shares of the company’s stock valued at $4,987,000 after purchasing an additional 58,645 shares during the last quarter. Main Management ETF Advisors LLC acquired a new stake in shares of SpringWorks Therapeutics during the 3rd quarter worth approximately $746,000. Wellington Management Group LLP raised its stake in shares of SpringWorks Therapeutics by 5.6% during the third quarter. Wellington Management Group LLP now owns 34,994 shares of the company’s stock worth $1,121,000 after buying an additional 1,853 shares during the last quarter. Finally, Soros Fund Management LLC lifted its holdings in SpringWorks Therapeutics by 45.3% in the third quarter. Soros Fund Management LLC now owns 559,321 shares of the company’s stock valued at $17,921,000 after buying an additional 174,321 shares during the period.

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.