We Expect GW’s Shares To Outperform As Its Pipeline Progresses, Says Cowen
Cowen analyst Phil Nadeau reiterated an Outperform rating on GW Pharmaceuticals (NASDAQ:GWPH) with a price target of $110, as the company announced financial results for the fourth quarter and year ended 30 September, 2014.
Nadeau noted, “GW ended FQ4:14 with £164.5MM in cash. GW is on track to start Epidiolex’s phase 3 trials in Dravet and LGS during Q1:15. Results from Sativex’s first phase 3 in cancer pain are expected in Q1:15. We expect GW’s shares to outperform as its pipeline progresses.”
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 45.8% and a 57.9% success rate. Nadeau has a -4.6% average return when recommending GWPH, and is ranked #33 out of 3391 analysts.