SpringWorks Therapeutics (SWTX) shares ended the last trading session 6% higher at $41.20. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7.2% loss over the past four weeks.
The company’s sole marketed drug, Ogsiveo, which is approved for treating adult patients with progressing desmoid tumors, has been witnessing a strong initial uptake. The growing optimism surrounding Ogsiveo might have driven the recent share price rally.
This biopharmaceutical company is expected to post quarterly loss of $0.66 per share in its upcoming report, which represents a year-over-year change of +54.2%. Revenues are expected to be $56.23 million, up 931.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For SpringWorks Therapeutics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SWTX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
SpringWorks Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. Nurix Therapeutics, Inc. (NRIX), another stock in the same industry, closed the last trading session 1.7% lower at $18.90. NRIX has returned -7% in the past month.
Nurix Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.67. Compared to the company's year-ago EPS, this represents a change of +13%. Nurix Therapeutics currently boasts a Zacks Rank of #4 (Sell).
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