GW Pharma Received its Third Buy in a Row

After Goldman Sachs and Merrill Lynch gave GW Pharma (NASDAQ: GWPH) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Elemer Piros reiterated a Buy rating on GW Pharma (NASDAQ: GWPH) today and set a price target of $235. The company’s shares closed yesterday at $144.85.

Piros said:

“We rate GWPH Overweight. GWPH develops a series of cannabis plant-derived drugs for the treatment of diseases. The company reported outstanding pivotal results with its lead drug, Epidiolex, for treating refractory seizures. Valuation Summary Our price target of $235/ADS is based on our estimate of the sum of the risk-adjusted NPV for Epidiolex, the company’s drug portfolio, and cash.”

According to TipRanks.com, Piros ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.5% and a 48.3% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.

Currently, the analyst consensus on GW Pharma is a Strong Buy with an average price target of $197.

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The company has a one-year high of $164.76 and a one-year low of $96.42. Currently, GW Pharma has an average volume of 468K.

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GW Pharmaceuticals Plc is a biopharmaceutical company, which engages in the discovery, development, and commercialization of novel therapeutics from proprietary cannabinoid product platform in a broad range of disease areas. It operates through the following segments: Commercial, Sativex Research and Development, and Pipeline Research and Development.