HC Wainwright Has Negative Outlook for SWTX FY2024 Earnings

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) – Investment analysts at HC Wainwright cut their FY2024 EPS estimates for SpringWorks Therapeutics in a report issued on Tuesday, November 12th. HC Wainwright analyst R. Burns now anticipates that the company will earn ($3.03) per share for the year, down from their previous estimate 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.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.04. The business had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The company’s quarterly revenue was up 4810.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.27) EPS.

A number of other equities analysts have also recently commented on SWTX. Wedbush reissued an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, SpringWorks Therapeutics currently has an average rating of “Buy” and a consensus price target of $68.17.

SpringWorks Therapeutics Stock Performance

SWTX stock opened at $36.55 on Friday. The company’s 50 day moving average is $32.82 and its 200 day moving average is $37.21. SpringWorks Therapeutics has a 1-year low of $19.61 and a 1-year high of $53.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. grew its holdings in shares of SpringWorks Therapeutics by 47.9% in the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock worth $45,000 after purchasing an additional 383 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 buying an additional 474 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in SpringWorks Therapeutics in the 2nd quarter worth $123,000. CANADA LIFE ASSURANCE Co increased its position in shares of SpringWorks Therapeutics by 20.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock valued at $220,000 after acquiring an additional 754 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of SpringWorks Therapeutics during the third quarter valued at about $147,000.

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.