After Merrill Lynch and Oppenheimer gave GW Pharma (NASDAQ: GWPH) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Serge Belanger initiated coverage with a Buy rating on GW Pharma today and set a price target of $200.00. The company’s shares closed last Monday at $121.50.
According to TipRanks.com, Belanger is a 1-star analyst with an average return of -3.2% and a 39.2% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Collegium Pharmaceutical, and Zynerba Pharmaceuticals.
GW Pharma has an analyst consensus of Strong Buy, with a price target consensus of $221.00, representing an 81.9% upside. In a report issued on October 14, Leerink Partners also reiterated a Buy rating on the stock.
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Based on GW Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $79.36 million. In comparison, last year the company had a GAAP net loss of $80 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.
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