Market Overview

Piper Sees "Meaningful Utility" from GW Phamaceuticals CBD, Reiterates Overweight Rating

Share:
Related GWPH
15 Marijuana Stocks To Watch In 2015: Where Are They Now?
Cramer Shares His Thoughts On J C Penney, Walgreens Boots Alliance, JetBlue Airways And GW Pharmaceuticals
GW Pharmaceuticals' (GWPH) CEO Justin Gover on Q1 2016 Results - Earnings Call Transcript (Seeking Alpha)

In a report published Friday, Piper Jaffray analyst Joshua Schimmer reiterated an Overweight rating on GW Pharmaceuticals plc (NASDAQ: GWPH) and raised the price target from $77.00 to $97.00.

Schimmer mentioned new checks with specialists who were convinced that CBD has “meaningful utility” for seizure patients. The analyst commented that CBD and THC have been reported to benefit individuals with migraine headaches and autism.

The analyst wrote that after reviewing Dravet studies, the “finding is consistent with what we have heard from specialists, suggesting the Epidiolex Phase III studies may be overpowered, and thereby substantially improving the probability that the 'views from the field' represent a true drug effect.”

GW Pharmaceuticals closed at $57.71 on Thursday. Shares have traded as high as $64.73, up 12.16% on Friday. This has been the biggest intraday gain since January 9.

Latest Ratings for GWPH

DateFirmActionFromTo
Nov 2015Roth CapitalAssumesBuy
Aug 2015Morgan StanleyInitiates Coverage onOverweight
Apr 2015Leerink SwannMaintainsOutperform

View More Analyst Ratings for GWPH
View the Latest Analyst Ratings

Posted-In: Joshua Schimmer Piper JaffrayAnalyst Color Price Target Analyst Ratings

 

Related Articles (GWPH)

View Comments and Join the Discussion!

Get Benzinga's Newsletters