SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Expected to Announce Quarterly Sales of $35.00 Million


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Wall Street analysts expect that SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) will report sales of $35.00 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for SpringWorks Therapeutics’ earnings. The business is scheduled to report its next quarterly earnings results on Thursday, March 11th.

According to Zacks, analysts expect that SpringWorks Therapeutics will report full year sales of $35.00 million for the current year. For the next financial year, analysts expect that the business will post sales of $0.00. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow SpringWorks Therapeutics.

A number of equities research analysts recently commented on the company. HC Wainwright increased their price target on SpringWorks Therapeutics from $87.00 to $101.00 and gave the company a “buy” rating in a research report on Tuesday, January 19th. Barclays raised their target price on SpringWorks Therapeutics from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, January 22nd. Zacks Investment Research downgraded SpringWorks Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, February 10th. Finally, JPMorgan Chase & Co. lifted their price target on SpringWorks Therapeutics from $57.00 to $85.00 in a research report on Thursday, December 17th.

In other news, COO Badreddin Edris sold 32,000 shares of the company’s stock in a transaction dated Monday, January 25th. The stock was sold at an average price of $84.07, for a total value of $2,690,240.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider L. Mary Smith sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 20th. The shares were sold at an average price of $78.70, for a total value of $787,000.00. Following the transaction, the insider now directly owns 168,639 shares of the company’s stock, valued at $13,271,889.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,301 shares of company stock valued at $8,213,281. Company insiders own 51.19% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System raised its holdings in shares of SpringWorks Therapeutics by 14.2% in the third quarter. State Board of Administration of Florida Retirement System now owns 7,258 shares of the company’s stock worth $346,000 after buying an additional 900 shares during the period. State Street Corp raised its holdings in shares of SpringWorks Therapeutics by 112.2% in the third quarter. State Street Corp now owns 796,842 shares of the company’s stock worth $37,985,000 after buying an additional 421,306 shares during the period. Strs Ohio raised its holdings in shares of SpringWorks Therapeutics by 203.7% in the third quarter. Strs Ohio now owns 16,400 shares of the company’s stock worth $781,000 after buying an additional 11,000 shares during the period. CIBC Asset Management Inc raised its holdings in shares of SpringWorks Therapeutics by 0.6% in the fourth quarter. CIBC Asset Management Inc now owns 155,983 shares of the company’s stock worth $11,312,000 after buying an additional 966 shares during the period. Finally, Trexquant Investment LP purchased a new stake in shares of SpringWorks Therapeutics in the third quarter worth approximately $347,000. 76.25% of the stock is owned by institutional investors.

Shares of SpringWorks Therapeutics stock traded up $3.06 on Tuesday, hitting $90.46. The stock had a trading volume of 248,852 shares, compared to its average volume of 313,181. The stock has a 50 day moving average of $81.17 and a 200 day moving average of $63.16. SpringWorks Therapeutics has a twelve month low of $19.50 and a twelve month high of $96.48. The firm has a market capitalization of $4.41 billion, a P/E ratio of -50.23 and a beta of 0.92.

About SpringWorks Therapeutics

SpringWorks Therapeutics, Inc, a clinical-stage biopharmaceutical company, acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase III clinical trial for the treatment of desmoid tumors.

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Earnings History and Estimates for SpringWorks Therapeutics (NASDAQ:SWTX)

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