Wedbush Initiates Coverage on SpringWorks Therapeutics (NASDAQ:SWTX)

Wedbush started coverage on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. The firm issued an outperform rating and a $33.00 price target 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.

Shares of SWTX opened at $18.96 on Tuesday. SpringWorks Therapeutics has a 52-week low of $17.66 and a 52-week high of $28.62.

In related news, Director Stephen P. Squinto bought 275,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $4,950,000.00. Also, major shareholder Bain Capital Life Sciences Inv bought 150,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were bought at an average price of $18.00 per share, for a total transaction of $2,700,000.00.

About SpringWorks Therapeutics

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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