GW Pharma (GWPH) received a Hold rating and a $142 price target from Oppenheimer analyst Esther Rajavelu today. The company’s shares opened today at $124.15.
Rajavelu noted:
“We initiate coverage of GW Pharmaceuticals (GWPH) with a Perform rating and $142 price target. With Epidiolex, a first-in-class phytocannabidiol medication for the treatment of certain types of seizures, and its unique proprietary cannabinoid platform, we believe the company is well positioned for both revenue growth and pipeline expansion. We view Epidiolex approval, favorable DEA scheduling, and timely launch as evidence of flawless execution by this management team over the past year, and anticipate increasing Epidiolex use as clinicians become comfortable with proper management of patients on multiple concomitant therapies. While we note the company is well positioned for growth and pipeline expansion, we believe these positive drivers are fairly reflected in the stock at current levels.”
According to TipRanks.com, Rajavelu is a 2-star analyst with an average return of 0.6% and a 42.9% success rate. Rajavelu covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Jazz Pharmaceuticals, and Aerie Pharma.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for GW Pharma with a $184.57 average 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.
