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Here's Why You Should Invest in SpringWorks (SWTX) Stock Now
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SpringWorks Therapeutics’ (SWTX - Free Report) oral gamma-secretase inhibitor, Ogsiveo (nirogacestat), was approved by the FDA for treating adult patients with progressing desmoid tumors in November 2023.
Following the FDA nod, not only Ogsiveo became the first approved product in the company’s portfolio but it also became the first approved drug for treating desmoid tumors, a rare, aggressive tumor of the soft tissues. Ogsiveo has witnessed a strong initial uptake so far. The company’s efforts to expand the drug’s label also look encouraging. Let’s dig deeper.
Reasons to Invest in SpringWorks Stock
Good Rank and Rising Estimates: SpringWorks currently has a Zacks Rank #2 (Buy).
In the past 30 days, the Zacks Consensus Estimate for SpringWorks’ 2024 loss per share has narrowed from $4.62 to $3.34. The same for 2025 has narrowed from $3.24 to $1.87.
Shares of SpringWorks have rallied 11.3% so far this year compared with the industry’s rise of 1.6%.
Image Source: Zacks Investment Research
Ogsiveo Becomes a Source of Revenues: Ogsiveo's net product revenues were $61.2 million in the first half of 2024. The drug has witnessed a rapid uptake so far, which is driven by strong commercial launches and high demand from both physicians and patients.
Per management, Ogsiveo has rapidly become the standard of care systemic therapy for patients with desmoid tumors since its approval.
The FDA approved a supplemental new drug application for two higher doses of Ogsiveo (150 mg & 100 mg) tablets in blister packaging in April 2024. This is expected to increase patient convenience and adherence by reducing the number of pills a patient has to take daily and making the dosage simpler. This should increase demand for the product and, in turn, drive the company’s revenues.
A marketing authorization application for Ogsiveo in desmoid tumors is currently under review with the European Medicines Agency. A potential approval in the EU is likely to boost sales of the drug.
Ogsiveo Label Expansion Studies Hold Promise: Several additional studies on Ogsiveo targeting different cancer indications are currently ongoing.
A phase II study is evaluating Ogsiveo as a monotherapy for treating patients with ovarian granulosa cell tumors, which account for almost 5% of all ovarian cancers. Initial data from the same is expected later in the second half of 2024.
Ogsiveo is also being studied in combination with various BCMA therapies across treatment lines in patients with multiple myeloma.
A potential approval of expanded use will further boost Ogsiveo’s sales and drive revenues higher.
Expansion of Pipeline Beyond Ogsiveo: Apart from Ogsiveo, SWTX is developing mirdametinib, a MEK inhibitor for treating children and adults with NF1-PN.
The company has completed the submission of a new drug application for mirdametinib in NF1-PN with the FDA. The company plans to announce the target action date for mirdametinib in the upcoming weeks.
In Europe, a marketing application for mirdametinib is expected to be filed later in the second half of 2024. The FDA and the European Commission have granted Orphan Drug designation to mirdametinib for the treatment of NF1.
Several other early-to-mid-stage studies are currently underway, evaluating mirdametinib both as monotherapy and in combination therapy for treating advanced or refractory solid tumors harboring MEK1 or MEK2 mutations and other MAPK pathway aberrations.
Meanwhile, in the second quarter of 2024, SpringWorks initiated a phase Ia study evaluating its investigational, oral, selective pan-TEAD inhibitor, SW-682, in Hippo-mutant solid tumors.
In the past 60 days, estimates for Illumina’s 2024 earnings per share have moved up from $1.07 to $3.16. Earnings per share estimates for 2025 have improved from $2.93 to $4.50. Year to date, shares of ILMN have lost 7.1%.
ILMN’s earnings beat estimates in each of the trailing four quarters, the average surprise being 463.46%.
In the past 60 days, estimates for Fulcrum Therapeutics’ 2024 loss per share have narrowed from $1.24 to 48 cents. Loss per share estimates for 2025 have narrowed from $1.71 to $1.51. Year to date, shares of FULC have surged 30.2%.
FULC’s earnings beat estimates in each of the trailing four quarters, the average surprise being 393.18%.
In the past 60 days, estimates for Bioventus’ 2024 earnings per share have moved up from 27 cents to 40 cents. Earnings per share estimates for 2025 have improved from 43 cents to 45 cents. Year to date, shares of BVS have rallied 87.4%.
BVS’ earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 102.86%.
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Here's Why You Should Invest in SpringWorks (SWTX) Stock Now
SpringWorks Therapeutics’ (SWTX - Free Report) oral gamma-secretase inhibitor, Ogsiveo (nirogacestat), was approved by the FDA for treating adult patients with progressing desmoid tumors in November 2023.
Following the FDA nod, not only Ogsiveo became the first approved product in the company’s portfolio but it also became the first approved drug for treating desmoid tumors, a rare, aggressive tumor of the soft tissues. Ogsiveo has witnessed a strong initial uptake so far. The company’s efforts to expand the drug’s label also look encouraging. Let’s dig deeper.
Reasons to Invest in SpringWorks Stock
Good Rank and Rising Estimates: SpringWorks currently has a Zacks Rank #2 (Buy).
In the past 30 days, the Zacks Consensus Estimate for SpringWorks’ 2024 loss per share has narrowed from $4.62 to $3.34. The same for 2025 has narrowed from $3.24 to $1.87.
Shares of SpringWorks have rallied 11.3% so far this year compared with the industry’s rise of 1.6%.
Image Source: Zacks Investment Research
Ogsiveo Becomes a Source of Revenues: Ogsiveo's net product revenues were $61.2 million in the first half of 2024. The drug has witnessed a rapid uptake so far, which is driven by strong commercial launches and high demand from both physicians and patients.
Per management, Ogsiveo has rapidly become the standard of care systemic therapy for patients with desmoid tumors since its approval.
The FDA approved a supplemental new drug application for two higher doses of Ogsiveo (150 mg & 100 mg) tablets in blister packaging in April 2024. This is expected to increase patient convenience and adherence by reducing the number of pills a patient has to take daily and making the dosage simpler. This should increase demand for the product and, in turn, drive the company’s revenues.
A marketing authorization application for Ogsiveo in desmoid tumors is currently under review with the European Medicines Agency. A potential approval in the EU is likely to boost sales of the drug.
Ogsiveo Label Expansion Studies Hold Promise: Several additional studies on Ogsiveo targeting different cancer indications are currently ongoing.
A phase II study is evaluating Ogsiveo as a monotherapy for treating patients with ovarian granulosa cell tumors, which account for almost 5% of all ovarian cancers. Initial data from the same is expected later in the second half of 2024.
Ogsiveo is also being studied in combination with various BCMA therapies across treatment lines in patients with multiple myeloma.
A potential approval of expanded use will further boost Ogsiveo’s sales and drive revenues higher.
Expansion of Pipeline Beyond Ogsiveo: Apart from Ogsiveo, SWTX is developing mirdametinib, a MEK inhibitor for treating children and adults with NF1-PN.
The company has completed the submission of a new drug application for mirdametinib in NF1-PN with the FDA. The company plans to announce the target action date for mirdametinib in the upcoming weeks.
In Europe, a marketing application for mirdametinib is expected to be filed later in the second half of 2024. The FDA and the European Commission have granted Orphan Drug designation to mirdametinib for the treatment of NF1.
Several other early-to-mid-stage studies are currently underway, evaluating mirdametinib both as monotherapy and in combination therapy for treating advanced or refractory solid tumors harboring MEK1 or MEK2 mutations and other MAPK pathway aberrations.
Meanwhile, in the second quarter of 2024, SpringWorks initiated a phase Ia study evaluating its investigational, oral, selective pan-TEAD inhibitor, SW-682, in Hippo-mutant solid tumors.
Other Stocks to Consider
Some other top-ranked stocks in the healthcare sector are Illumina, Inc. (ILMN - Free Report) , Fulcrum Therapeutics, Inc. (FULC - Free Report) and Bioventus Inc. (BVS - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Illumina’s 2024 earnings per share have moved up from $1.07 to $3.16. Earnings per share estimates for 2025 have improved from $2.93 to $4.50. Year to date, shares of ILMN have lost 7.1%.
ILMN’s earnings beat estimates in each of the trailing four quarters, the average surprise being 463.46%.
In the past 60 days, estimates for Fulcrum Therapeutics’ 2024 loss per share have narrowed from $1.24 to 48 cents. Loss per share estimates for 2025 have narrowed from $1.71 to $1.51. Year to date, shares of FULC have surged 30.2%.
FULC’s earnings beat estimates in each of the trailing four quarters, the average surprise being 393.18%.
In the past 60 days, estimates for Bioventus’ 2024 earnings per share have moved up from 27 cents to 40 cents. Earnings per share estimates for 2025 have improved from 43 cents to 45 cents. Year to date, shares of BVS have rallied 87.4%.
BVS’ earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 102.86%.