FY2024 Earnings Estimate for SWTX Issued By HC Wainwright

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) – HC Wainwright reduced their FY2024 earnings estimates for shares of SpringWorks Therapeutics in a research report issued to clients and investors on Tuesday, November 12th. HC Wainwright analyst R. Burns now forecasts that the company will post earnings per share of ($3.03) 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.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Wedbush restated an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Thursday, November 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $68.17.

SpringWorks Therapeutics Trading Down 0.3 %

Shares of NASDAQ:SWTX opened at $36.45 on Friday. The stock has a 50 day moving average of $32.75 and a 200 day moving average of $37.21. The company has a market cap of $2.71 billion, a PE ratio of -9.25 and a beta of 0.79. SpringWorks Therapeutics has a 12-month low of $19.61 and a 12-month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last released 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 ($0.76) by $0.04. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The business had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. During the same quarter in the previous year, the company posted ($1.27) earnings per share. SpringWorks Therapeutics’s revenue for the quarter was up 4810.0% on a year-over-year basis.

Hedge Funds Weigh In On SpringWorks Therapeutics

Hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. boosted its stake in SpringWorks Therapeutics by 47.9% during the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock valued at $45,000 after buying an additional 383 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after acquiring an additional 474 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of SpringWorks Therapeutics in the second quarter valued at $123,000. Quantbot Technologies LP bought a new stake in SpringWorks Therapeutics in the third quarter worth $147,000. Finally, Quarry LP raised its stake in SpringWorks Therapeutics by 56.3% during the second quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $188,000 after purchasing an additional 1,800 shares in the last quarter.

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.