HC Wainwright Initiates Coverage on SpringWorks Therapeutics (NASDAQ:SWTX)

Equities researchers at HC Wainwright started coverage on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a report issued on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $33.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 34.58% from the company’s previous close.

A number of other research analysts have also commented on SWTX. Cowen assumed coverage on SpringWorks Therapeutics in a report on Tuesday, October 8th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. started coverage on SpringWorks Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating and a $32.00 target price for the company. Goldman Sachs Group started coverage on SpringWorks Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating and a $37.00 target price for the company. Finally, Wedbush started coverage on SpringWorks Therapeutics in a report on Tuesday, October 8th. They set an “outperform” rating and a $33.00 price target on the stock. Five analysts have rated the stock with a buy rating, SpringWorks Therapeutics has an average rating of “Buy” and an average price target of $33.75.

Shares of NASDAQ:SWTX opened at $24.52 on Wednesday. SpringWorks Therapeutics has a 1 year low of $17.02 and a 1 year high of $28.62. The stock has a fifty day simple moving average of $20.32.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its earnings results on Tuesday, November 12th. The company reported ($1.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($1.30). On average, analysts anticipate that SpringWorks Therapeutics will post -2.33 EPS for the current fiscal year.

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

An institutional investor recently bought a new position in SpringWorks Therapeutics stock. Millennium Management LLC purchased a new stake in shares of SpringWorks Therapeutics (NASDAQ:SWTX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 403,613 shares of the company’s stock, valued at approximately $8,750,000. Millennium Management LLC owned 0.94% of SpringWorks Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 72.13% of the company’s stock.

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.

See Also: Compound Annual Growth Rate (CAGR)

Analyst Recommendations for SpringWorks Therapeutics (NASDAQ:SWTX)

Receive News & Ratings for SpringWorks Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SpringWorks Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit