Roth Capital analysts weighed in on cancer treatments maker Celator Pharmaceuticals Inc (NASDAQ:CPXX) and cannabis-based drug maker GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH), after both released positive Phase 3 study results on pipeline drugs. Each drug met its primary endpoint, causing the analysts to reiterate their Buy ratings and increase price targets.

Celator Pharmaceuticals Inc

Analyst Joseph Pagantis weighed in on Celator following positive Phase 3 data from Vyxeos, a liposome injection for patients with high-risk acute myeloid Leukemia. The drug met its primary endpoint of increasing survival time compared to the standard “7+3” therapy, the traditional treatment of the disease. Vyxeos demonstrated a median overall survival of 9.56 months compared to 5.95 months for “7+3”. The company plans to file an NDA later this year and an MAA in the E.U for the drug in the first quarter of 2017.

The analyst believes this data represents a breakthrough for AML patients and expects the company to seek an ex-U.S partner to help market the drug. He states, “The wait is over and the Vyxeos Phase III wins and now represents the first drug in decades to show a survival improvement in induction therapy for AML patients. The focus now shifts to filing for approval in the U.S. and E.U. and, importantly, a likely ex-U.S. partnership off of these data, in our belief.”

Pagantis reiterates his Buy rating on the company and increased his price target to $22 (from $18). According to TipRanksJoseph Pagantis has a 30% success rate recommending stocks with an average loss of (12.7%) per recommendation.

As of this writing, 4 analysts have rated the company in the last year with an average 12-month price target of $10.33, marking a 29% upside from current levels.

GW Pharmaceuticals PLC- ADR

Roth Capital’s Elemer Piros commented on GWPH after the company released positive phase 3 study results for Epidiolex, a drug developed to treat Davet syndrome, a childhood epileptic condition. He states, “Investor concern of large potential placebo effect was smashed: 13% seizure reduction rate was observed in placebo patients in contrast to 39% with Epidiolex treatment… Secondary endpoints, which were described as positive, will be discussed at upcoming scientific meetings.” He continued, “The results disclosed today portend well for potential positive outcomes from the upcoming events.”

Piros reiterated a Buy rating on the company and increased his price target to $160 (from $130). According to TipRanksElemer Piros has a 22% success rate recommending stocks with an average loss of (28.8%) per recommendation.

As of this writing, all 4 analysts who have rated the stock in the past 3 months are bullish. The average 12-month price target for the stock is $140.25, marking a 78% upside from current levels.