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GW Pharma Rapidly Approaching CNS Launch; Leerink Starts Coverage With $162 Target

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GW Pharma Rapidly Approaching CNS Launch; Leerink Starts Coverage With $162 Target

Leerink resumed coverage on GW Pharmaceuticals PLC (NASDAQ: GWPH) in anticipation of FDA approval for Epidiolex. Analyst Paul Matteis expressed an Outperform Rating, and set the firm’s price target at $162.

Matteis primarily cited the FDA’s pending approval of Epidiolex, and the firm’s confidence in the drug as the reason for his bullish resumption of coverage.

Related Link: Exclusive: GW Pharmaceuticals Talks Epidiolex, Raising Capital & Growing Its Sales Force

The analyst stated a 90 percent probability for FDA approval following three positive Phase III trials.

Looking forward, Matteis is also optimistic concerning a global launch for Epidiolex, which is currently being administered to more than 1,000 children affected by Dravet Syndrome, Lennox Gastaut Syndrome and refractory seizures.

The stock traded recently at $132.80 after opening at $134.81.

Latest Ratings for GWPH

DateFirmActionFromTo
Nov 2019MaintainsOverweight
Oct 2019Initiates Coverage OnBuy
Oct 2019Initiates Coverage OnBuy

View More Analyst Ratings for GWPH
View the Latest Analyst Ratings

Posted-In: Epidiolex LeerinkAnalyst Color Long Ideas Price Target Initiation Analyst Ratings Trading Ideas Best of Benzinga

 

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