SpringWorks Therapeutics (NASDAQ:SWTX) Posts Quarterly Earnings Results, Misses Estimates By $0.38 EPS

SpringWorks Therapeutics (NASDAQ:SWTX) released its earnings results on Thursday. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.38), Zacks reports. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%.

SpringWorks Therapeutics Stock Performance

NASDAQ:SWTX opened at $59.93 on Friday. SpringWorks Therapeutics has a 52 week low of $28.21 and a 52 week high of $62.00. The stock’s 50-day moving average price is $40.70 and its 200-day moving average price is $37.47.

Analyst Ratings Changes

Several equities analysts recently issued reports on SWTX shares. Guggenheim cut their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. HC Wainwright reissued a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Wednesday, February 12th. Evercore ISI upped their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $81.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $71.50.

Insider Activity

In other news, CEO Saqib Islam sold 10,672 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $59.92, for a total transaction of $639,466.24. Following the sale, the chief executive officer now directly owns 1,063,953 shares in the company, valued at $63,752,063.76. This trade represents a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Badreddin Edris sold 30,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $53.13, for a total value of $1,593,900.00. Following the sale, the chief operating officer now owns 189,712 shares in the company, valued at $10,079,398.56. This trade represents a 13.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,822 shares of company stock worth $16,802,876 in the last ninety days. Company insiders own 7.61% of the company’s stock.

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.