Wedbush Cuts Earnings Estimates for SpringWorks Therapeutics

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) – Equities research analysts at Wedbush decreased their FY2024 earnings estimates for SpringWorks Therapeutics in a research report issued on Tuesday, November 12th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings of ($3.21) per share for the year, down from their prior forecast of ($3.11). Wedbush currently has a “Outperform” rating and a $77.00 target price on the stock. The consensus estimate for SpringWorks Therapeutics’ current full-year earnings is ($3.17) per share. Wedbush also issued estimates for SpringWorks Therapeutics’ Q4 2024 earnings at ($0.76) EPS, Q1 2025 earnings at ($0.75) EPS, Q2 2025 earnings at ($0.71) EPS, Q3 2025 earnings at ($0.60) EPS, Q4 2025 earnings at ($0.46) EPS, FY2025 earnings at ($2.51) EPS, FY2026 earnings at $0.14 EPS and FY2027 earnings at $3.47 EPS.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.04. The company had revenue of $49.10 million during 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 revenue for the quarter was up 4810.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.27) earnings per share.

A number of other research firms have also issued reports on SWTX. HC Wainwright reduced their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. increased 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 research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $68.17.

SpringWorks Therapeutics Price Performance

Shares of SpringWorks Therapeutics stock opened at $36.55 on Friday. SpringWorks Therapeutics has a 1 year low of $19.61 and a 1 year high of $53.92. The stock has a 50-day moving average price of $32.82 and a 200 day moving average price of $37.21.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of hedge funds have recently added to or reduced their stakes in SWTX. SG Americas Securities LLC boosted its holdings in SpringWorks Therapeutics by 8.3% in the first quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock worth $230,000 after purchasing an additional 358 shares in the last quarter. Sei Investments Co. boosted its stake in shares of SpringWorks Therapeutics by 79.5% during the 1st quarter. Sei Investments Co. now owns 48,662 shares of the company’s stock worth $2,395,000 after acquiring an additional 21,558 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of SpringWorks Therapeutics by 49.0% during the 1st quarter. Russell Investments Group Ltd. now owns 170,047 shares of the company’s stock valued at $8,370,000 after acquiring an additional 55,893 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of SpringWorks Therapeutics by 15.7% in the 1st quarter. ProShare Advisors LLC now owns 17,473 shares of the company’s stock valued at $860,000 after acquiring an additional 2,368 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in shares of SpringWorks Therapeutics by 32.7% in the 1st quarter. Orion Portfolio Solutions LLC now owns 28,878 shares of the company’s stock valued at $1,421,000 after acquiring an additional 7,124 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.