Cowen analyst Phil Nadeau reiterated an Outperform rating on GW Pharmaceuticals (NASDAQ:GWPH) with a price target of $110, following the news that the company’s first Phase 3 trial for its Sativex product failed to meet its primary endpoint in patients with advanced cancer who experience inadequate analgesia with chronic opioid therapy.

Nadeau noted, “While disappointing, most of the value in GWPH is for the epilepsy program, and we continue to recommend the stock based on Epidiolex’s potential. Epidiolex is on track to yield Ph. 3 pivotal data by YE:15.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Phil Nadeau has a total average return of 11.8% and a 63.4% success rate. Nadeau has a -5.6% average return when recommending GWPH, and is ranked #493 out of 3434 analysts.