Wedbush Equities Analysts Lift Earnings Estimates for SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) – Analysts at Wedbush increased their FY2027 earnings per share (EPS) estimates for SpringWorks Therapeutics in a report issued on Wednesday, August 28th. Wedbush analyst D. Nierengarten now expects that the company will post earnings per share of $3.56 for the year, up from their previous forecast of $3.41. Wedbush has a “Outperform” rating and a $77.00 price objective on the stock. The consensus estimate for SpringWorks Therapeutics’ current full-year earnings is ($3.34) per share.

Separately, HC Wainwright reiterated a “buy” rating and set a $76.00 price target on shares of SpringWorks Therapeutics in a report on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SpringWorks Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $69.50.

SpringWorks Therapeutics Stock Down 0.7 %

SpringWorks Therapeutics stock opened at $40.93 on Thursday. The stock’s fifty day simple moving average is $37.62 and its 200-day simple moving average is $42.61. SpringWorks Therapeutics has a twelve month low of $18.00 and a twelve month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.58. The firm had revenue of $59.73 million during the quarter, compared to analyst estimates of $34.42 million. During the same period in the previous year, the firm posted ($1.25) earnings per share. The company’s quarterly revenue was up 59732900.0% compared to the same quarter last year.

Institutional Trading of SpringWorks Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in shares of SpringWorks Therapeutics by 47.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock valued at $45,000 after purchasing an additional 383 shares during the last quarter. Headlands Technologies LLC purchased a new stake in SpringWorks Therapeutics in the 4th quarter valued at about $74,000. Strs Ohio purchased a new stake in SpringWorks Therapeutics in the fourth quarter valued at approximately $102,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of SpringWorks Therapeutics during the 2nd quarter worth $123,000. Finally, CANADA LIFE ASSURANCE Co grew its position in SpringWorks Therapeutics by 20.3% during 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.

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.