SpringWorks Therapeutics (SWTX) Soars 9.0%: Is Further Upside Left in the Stock?

SpringWorks Therapeutics (SWTX) shares rallied 9% in the last trading session to close at $44.93. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 11.3% loss over the past four weeks.The sudden price rise can be attributed to growing investors’ optimism related to the company’s progress with its lead marketed product, Ogsiveo (nirogacestat), which is approved for treating Desmoid tumors. The drug has witnessed rapid uptake, driven by strong commercial launches and high demand since its approval in late 2023.This biopharmaceutical company is expected to post quarterly loss of $0.79 per share in its upcoming report, which represents a year-over-year change of +33.1%. Revenues are expected to be $64.19 million, up 205.5% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and 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 belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Pharming Group N.V. Sponsored ADR (PHAR), closed the last trading session 3.8% higher at $8.58. Over the past month, PHAR has returned -5.8%.For Pharming Group, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.25. This represents a change of -31.6% from what the company reported a year ago. Pharming Group currently has a Zacks Rank of #3 (Hold).Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>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 SpringWorks Therapeutics (SWTX): Free Stock Analysis Report Pharming Group N.V. Sponsored ADR (PHAR): 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