GW Pharmaceuticals PLC (GWPH) Downgraded to “Hold” at Zacks Investment Research
GW Pharmaceuticals PLC (NASDAQ:GWPH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “GW Pharma is a biopharmaceutical company focused on the development and commercialization of treatments from its proprietary cannabinoid product platform. The company’s progress with Epidiolex, its lead pipeline candidate, is encouraging. GW Pharma expects to seek FDA approval for Epidiolex for both the Dravet syndrome and Lennox-Gastaut syndrome (LGS) indications in the first half of fiscal 2017. Approval would be a huge boost for the company. Meanwhile, the key growth driver at GW Pharma is Sativex at present, marketed outside the U.S. for the treatment of spasticity due to multiple sclerosis. We are positive on the company’s efforts to expand Sativex’s label. Estimates have been mostly stable ahead of Q4 results. However, GW Pharma’s products may face competition from other cannabinoid-based treatments available in the over-the-counter market. Additionally, its reliance on Sativex and related partnerships is concerning.”
GWPH has been the topic of a number of other research reports. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $147.00 target price on shares of GW Pharmaceuticals PLC in a research note on Monday, September 26th. Cantor Fitzgerald set a $165.00 target price on shares of GW Pharmaceuticals PLC and gave the company a “buy” rating in a research note on Thursday, September 8th. Cowen and Company reissued an “outperform” rating and set a $135.00 price objective on shares of GW Pharmaceuticals PLC in a research note on Tuesday, September 27th. Leerink Swann initiated coverage on shares of GW Pharmaceuticals PLC in a research note on Tuesday, October 4th. They set an “outperform” rating and a $162.00 price objective on the stock. Finally, Vetr raised shares of GW Pharmaceuticals PLC from a “buy” rating to a “strong-buy” rating and set a $141.40 price objective on the stock in a research note on Tuesday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $143.40.
GW Pharmaceuticals PLC (NASDAQ:GWPH) traded up 0.93% during trading on Tuesday, hitting $118.15. 201,337 shares of the stock were exchanged. GW Pharmaceuticals PLC has a 52 week low of $35.83 and a 52 week high of $137.88. The stock’s market cap is $2.59 billion. The stock has a 50 day moving average of $122.43 and a 200-day moving average of $101.77.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in GW Pharmaceuticals PLC by 18.6% in the first quarter. Renaissance Technologies LLC now owns 179,400 shares of the biopharmaceutical company’s stock valued at $12,944,000 after buying an additional 28,100 shares during the last quarter. Seven Eight Capital LLC boosted its position in GW Pharmaceuticals PLC by 216.7% in the first quarter. Seven Eight Capital LLC now owns 1,900 shares of the biopharmaceutical company’s stock valued at $137,000 after buying an additional 1,300 shares during the last quarter. Rothschild Investment Corp IL bought a new position in GW Pharmaceuticals PLC during the second quarter valued at $200,000. Profit Investment Management LLC bought a new position in GW Pharmaceuticals PLC during the second quarter valued at $260,000. Finally, Rothschild Capital Partners LLC bought a new position in GW Pharmaceuticals PLC during the second quarter valued at $275,000. 82.87% of the stock is owned by institutional investors and hedge funds.
GW Pharmaceuticals PLC Company Profile
GW Pharmaceuticals plc is involved in the development of cannabinoid prescription medicines using botanical extracts derived from the Cannabis Sativa plant. The Company develops a portfolio of cannabinoid medicines, including Epidiolex, which is an oral medicine for the treatment of refractory childhood epilepsies.
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