What is HC Wainwright’s Forecast for SWTX FY2024 Earnings?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) – Equities research analysts at HC Wainwright cut their FY2024 earnings per share estimates for shares of SpringWorks Therapeutics in a report released on Wednesday, February 12th. HC Wainwright analyst R. Burns now anticipates that the company will earn ($3.14) per share for the year, down from their prior forecast of ($3.03). HC Wainwright has a “Buy” rating and a $74.00 price target on the stock. The consensus estimate for SpringWorks Therapeutics’ current full-year earnings is ($3.03) per share. HC Wainwright also issued estimates for SpringWorks Therapeutics’ Q4 2024 earnings at ($0.70) EPS, Q1 2025 earnings at ($0.71) EPS, Q2 2025 earnings at ($0.60) EPS, Q3 2025 earnings at ($0.50) EPS, Q4 2025 earnings at ($0.39) EPS and FY2025 earnings at ($2.20) EPS.

Several other research analysts have also recently issued reports on SWTX. Wedbush reissued an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, February 10th. Evercore ISI increased their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Guggenheim decreased their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $70.83.

SpringWorks Therapeutics Price Performance

Shares of SWTX opened at $56.30 on Monday. The company has a market cap of $4.19 billion, a P/E ratio of -14.51 and a beta of 0.81. The stock has a fifty day moving average price of $39.66 and a 200 day moving average price of $37.02. SpringWorks Therapeutics has a 12 month low of $28.21 and a 12 month high of $60.00.

Institutional Investors Weigh In On SpringWorks Therapeutics

Hedge funds have recently bought and sold shares of the business. Huntington National Bank raised its stake in shares of SpringWorks Therapeutics by 38.2% during the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after purchasing an additional 192 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after acquiring an additional 414 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of SpringWorks Therapeutics during the 4th quarter valued at about $45,000. State of Wyoming grew its holdings in SpringWorks Therapeutics by 39.5% in the 4th quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after buying an additional 433 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in SpringWorks Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after buying an additional 474 shares during the last quarter.

Insider Activity at SpringWorks Therapeutics

In related news, CEO Saqib Islam sold 48,000 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $53.30, for a total value of $2,558,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,002,502 shares of the company’s stock, valued at approximately $53,433,356.60. This represents a 4.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Badreddin Edris sold 20,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the sale, the chief operating officer now directly owns 209,600 shares of the company’s stock, valued at approximately $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 302,750 shares of company stock valued at $16,139,410 over the last 90 days. 7.61% of the stock is currently owned by corporate insiders.

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.