Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on GW Pharma (GWPH) today and set a price target of $193. The company’s shares closed on Friday at $123.02.
Piros observed:
“: We are reiterating our Overweight rating and lowering out 12-month PT to $193/ADS from $211/ADS on GW 10-K release. Our decrease in valuation is based off the dilution from the recent raise of $345 million and increased G&A spending. Despite this price-target change, we remain very bullish on GWPH shares and foresee 57% upside potential from the stock’s current trading level. Near-term emphasis should be a focus on Epidiolex sales, which we expect to take off in 1Q19, following the holiday season. Our full review of the quarter can be found in our note: “2018 Spring Forward, Fall Back, Epidiolex Launch Is Moving Around” here.”
According to TipRanks.com, Piros ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -9.9% and a 36.7% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Proteostasis Therapeutics Inc, and Strongbridge Biopharma Plc.
Currently, the analyst consensus on GW Pharma is a Strong Buy with an average price target of $195.83, implying a 59.2% upside from current levels. In a report issued on November 28, Piper Jaffray also maintained a Buy rating on the stock with a $180 price target.
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Based on GW Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $80 million. In comparison, last year the company had a GAAP net loss of $54.12 million.
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GW Pharmaceuticals Plc is a biopharmaceutical company, which engages in the discovery, development, and commercialization of novel therapeutics. It offers its lead cannabinoid product, Epidiolex oral solution CV, a pharmaceutical formulation of cannabidiol (CBD) focusing on the treatment of seizures associated with tuberous sclerosis complex.
