SpringWorks Shares Rise More Than 30% in 3 Months: Here's Why

Shares of SpringWorks Therapeutics SWTX have rallied 32.9% in the past three months compared with the industry’s increase of 2.7%. Here, we discuss the reasons for the same.Strong Launch of SWTX's Ogsiveo & FDA Approval for GomekliFollowing the FDA nod in late 2023, Ogsiveo (nirogacestat) became the first approved product in the company’s portfolio and the first approved drug for treating desmoid tumors, a rare, aggressive tumor of the soft tissues.The drug has witnessed rapid uptake since its launch, driven by strong commercial launches and high demand from both physicians and patients. Ogsiveo's net product revenues were $172 million in 2024.Last month, the FDA approved SpringWorks’ MEK inhibitor, Gomekli (mirdametinib) for the treatment of adult and pediatric patients 2 years of age and older with neurofibromatosis type 1 (NF1) who have symptomatic plexiform neurofibromas (PN) not amenable to complete resection. The approval of Gomekli has diversified SWTX’s commercial portfolio. The drug is in the initial launch stage.The strong initial uptake for Ogsiveo and the FDA’s approval for SpringWorks’ second product, Gomekli, drove the stock’s increase.Image Source: Zacks Investment ResearchSWTX's Other Key DevelopmentsThe marketing authorization application for Ogsiveo for treating adult patients with desmoid tumors is currently under review with the European Medicines Agency (“EMA”). A potential approval in the EU is expected later in 2025.Several additional studies on Ogsiveo, targeting different cancer indications, are currently ongoing.Initial data from a phase II study evaluating Ogsiveo as a monotherapy in patients with recurrent ovarian granulosa cell tumors is expected later in the first half of 2025.A marketing authorization application for Gomekli for the treatment of adults and children with NF1-PN has also been validated by the EMA. The company plans initial launch in the European Union in 2025, upon potential approval.Several other early-to-mid-stage studies are currently underway evaluating Gomekli both as monotherapy and in combination therapy for treating advanced or refractory solid tumors harboring MEK1 or MEK2 mutations and other MAPK pathway aberrations.SpringWorks is also evaluating its investigational, oral, selective pan-TEAD inhibitor, SW-682, in a phase I study for treating patients with Hippo-mutant solid tumors.The continued demand for Ogsiveo and the successful launch of Gomekli should continue the upward momentum for SWTX stock in 2025.SpringWorks Therapeutics Price SpringWorks Therapeutics price | SpringWorks Therapeutics QuoteSWTX's Zacks Rank & Stocks to ConsiderSpringWorks currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the drug/biotech sector are Xencor, Inc. XNCR, Anixa Biosciences, Inc. ANIX and BioMarin Pharmaceutical Inc. BMRN, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past 60 days, estimates for Xencor’s loss per share have narrowed from $3.64 to $2.87 for 2025. In the past year, shares of XNCR have lost 42.4%.XNCR’s earnings beat estimates in two of the trailing four quarters while missing the same on the remaining two occasions, the average negative surprise being 4.77%.In the past 60 days, estimates for Anixa Biosciences’ loss per share have narrowed from 46 cents to 41 cents for 2025. In the past year, shares of ANIX have decreased 16.3%.ANIX’s earnings beat estimates in three of the trailing four quarters while meeting the same on the remaining occasion, the average surprise being 9.09%.In the past 60 days, estimates for BioMarin’s earnings per share have increased from $4.01 to $4.25 for 2025. In the past year, shares of BMRN have declined 16.8%.BMRN’s earnings beat estimates in each of the trailing four quarters, the average surprise being 32.36%.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BioMarin Pharmaceutical Inc. (BMRN): Free Stock Analysis Report Xencor, Inc. (XNCR): Free Stock Analysis Report ANIXA BIOSCIENCES INC (ANIX): Free Stock Analysis Report SpringWorks Therapeutics (SWTX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks