SpringWorks Therapeutics (NASDAQ:SWTX) Releases Quarterly Earnings Results, Beats Estimates By $0.58 EPS

SpringWorks Therapeutics (NASDAQ:SWTX) released its quarterly earnings data on Wednesday. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($1.12) by $0.58, Briefing.com reports. The firm had revenue of $59.73 million for the quarter, compared to analyst estimates of $34.42 million. The firm’s revenue for the quarter was up 59732900.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.25) earnings per share.

SpringWorks Therapeutics Trading Up 4.1 %

NASDAQ SWTX traded up $1.48 during trading on Friday, reaching $37.41. The company’s stock had a trading volume of 673,748 shares, compared to its average volume of 989,774. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of -6.99 and a beta of 0.78. SpringWorks Therapeutics has a 12 month low of $18.00 and a 12 month high of $53.92. The firm has a 50 day moving average price of $37.69 and a 200 day moving average price of $43.18.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SWTX. Wedbush reiterated an “outperform” rating and issued a $75.00 price target on shares of SpringWorks Therapeutics in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, May 31st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $68.83.

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.