Wedbush Initiates Coverage on SpringWorks Therapeutics (NASDAQ:SWTX)

Wedbush started coverage on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. The firm issued an outperform rating and a $33.00 target price on the stock. Wedbush also issued estimates for SpringWorks Therapeutics’ Q3 2019 earnings at ($0.32) EPS, Q4 2019 earnings at ($0.32) EPS, FY2019 earnings at ($1.87) EPS, FY2020 earnings at ($1.33) EPS, FY2021 earnings at ($1.46) EPS, FY2022 earnings at ($1.42) EPS and FY2023 earnings at ($1.12) EPS.

SWTX stock opened at $18.96 on Tuesday. SpringWorks Therapeutics has a fifty-two week low of $17.66 and a fifty-two week high of $28.62.

In other SpringWorks Therapeutics news, Director Stephen P. Squinto purchased 275,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was purchased at an average cost of $18.00 per share, with a total value of $4,950,000.00. Also, major shareholder Bain Capital Life Sciences Inv purchased 150,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was acquired at an average cost of $18.00 per share, with a total value of $2,700,000.00.

SpringWorks Therapeutics Company Profile

SpringWorks Therapeutics, Inc, a clinical-stage biopharmaceutical company, acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its advanced product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase 3 clinical trials for the treatment of desmoid tumors.

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