SpringWorks Therapeutics (NASDAQ:SWTX) Announces Earnings Results

SpringWorks Therapeutics (NASDAQ:SWTXGet Rating) posted its quarterly earnings results on Thursday. The company reported ($1.41) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.26), Briefing.com reports. SpringWorks Therapeutics’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.97) EPS.

SpringWorks Therapeutics Stock Performance

Shares of SWTX stock traded up $2.47 during midday trading on Friday, reaching $36.86. 1,173,134 shares of the company were exchanged, compared to its average volume of 806,107. The company’s 50 day moving average price is $25.72 and its two-hundred day moving average price is $42.74. The company has a market cap of $1.82 billion, a P/E ratio of -8.69 and a beta of 0.82. SpringWorks Therapeutics has a 12 month low of $13.60 and a 12 month high of $88.05.

Wall Street Analysts Forecast Growth

SWTX has been the topic of a number of research reports. HC Wainwright dropped their price target on SpringWorks Therapeutics from $142.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, June 6th. The Goldman Sachs Group lowered their price target on shares of SpringWorks Therapeutics from $92.00 to $76.00 and set a “buy” rating for the company in a research report on Tuesday, May 24th. Finally, Wedbush set a $53.00 price objective on shares of SpringWorks Therapeutics in a research report on Monday, June 20th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. acquired a new position in shares of SpringWorks Therapeutics in the 1st quarter worth approximately $560,000. MetLife Investment Management LLC lifted its holdings in shares of SpringWorks Therapeutics by 52.4% during the first quarter. MetLife Investment Management LLC now owns 16,081 shares of the company’s stock valued at $908,000 after purchasing an additional 5,529 shares during the last quarter. Royal Bank of Canada boosted its position in shares of SpringWorks Therapeutics by 1.8% in the 1st quarter. Royal Bank of Canada now owns 26,465 shares of the company’s stock valued at $1,494,000 after purchasing an additional 479 shares during the period. The Manufacturers Life Insurance Company raised its holdings in SpringWorks Therapeutics by 82.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 27,867 shares of the company’s stock worth $1,622,000 after buying an additional 12,619 shares during the period. Finally, Rhumbline Advisers increased its position in shares of SpringWorks Therapeutics by 3.7% in the first quarter. Rhumbline Advisers now owns 30,629 shares of the company’s stock worth $1,729,000 after acquiring an additional 1,101 shares in the last quarter. Institutional investors and hedge funds own 96.20% of the company’s stock.

SpringWorks Therapeutics Company Profile

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SpringWorks Therapeutics, Inc 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 for SpringWorks Therapeutics (NASDAQ:SWTX)

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