GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH), a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, today announced that seven abstracts related to GW programs have been selected for presentation at the upcoming 69th Annual Meeting of the American Epilepsy Society including data from the physician-led Epidiolex® (cannabidiol or CBD) expanded access program. The meeting will be held December 4-8 in Philadelphia, PA.
“We are pleased to see a significant number of abstracts related to Epidiolex at this year’s Annual Meeting for theAmerican Epilepsy Society and believe this reflects the importance of this program within the epilepsy community,” stated Justin Gover, GW’s Chief Executive Officer. “The new data disclosed in these abstracts from the Epidiolex expanded access program continues to reinforce and support the encouraging signals of efficacy and safety consistent with previous data disclosures. Our four pivotal Phase 3 trials of Epidiolex are now in their advanced stages and we look forward to data from these trials next year.”
Epidiolex is an oral formulation of pure plant-derived CBD. GW is undertaking a formal development program for Epidiolex in severe, drug-resistant childhood epilepsy syndromes which include two pivotal Phase 3 trials of Epidiolex in Dravet syndrome and two pivotal Phase 3 trials of Epidiolex in Lennox-Gastaut syndrome. A Phase 3 trial in Tuberous Sclerosis Complex is due to commence shortly. (Original Source)
Shares of GW Pharmaceuticals closed yesterday at $84.52, up $1.65 or 1.99%. GWPH has a 1-year high of $133.98 and a 1-year low of $65.28. The stock’s 50-day moving average is $84.36 and its 200-day moving average is $105.90.
On the ratings front, GWPH has been the subject of a number of recent research reports. In a report issued on October 15, Piper Jaffray analyst Joshua Schimmer reiterated a Buy rating on GWPH, with a price target of $147, which implies an upside of 73.9% from current levels. Separately, on September 17, Cowen’s Phil Nadeau reiterated a Buy rating on the stock and has a price target of $135.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joshua Schimmer and Phil Nadeau have a total average return of 0.0% and 16.2% respectively. Schimmer has a success rate of 45.6% and is ranked #2448 out of 3641 analysts, while Nadeau has a success rate of 61.3% and is ranked #192.
GW Pharmaceuticals PLC is engaged in the research, development and commercialisation of cannabinoid prescription medicines to meet patient needs.