GW Pharmaceuticals PLC- (NASDAQ:GWPH) shares shot up 2.4% during mid-day trading on Wednesday . The stock traded as high as $88.23 and last traded at $87.04, with a volume of 299,065 shares. The stock had previously closed at $85.04.

Several research firms have recently issued reports on GWPH. Piper Jaffray Cos. restated a “buy” rating and issued a $147.00 price target on shares of GW Pharmaceuticals PLC- in a research report on Sunday, June 26th. Vetr upgraded GW Pharmaceuticals PLC- from a “buy” rating to a “strong-buy” rating and set a $87.65 price target on the stock in a research report on Thursday, May 5th. Leerink Swann raised their price target on GW Pharmaceuticals PLC- to $138.00 and gave the stock a “buy” rating in a research report on Monday, June 27th. Janney Montgomery Scott began coverage on GW Pharmaceuticals PLC- in a research report on Monday, June 27th. They issued a “sell” rating and a $40.00 price target on the stock. Finally, Cowen and Company restated a “buy” rating and issued a $135.00 price target on shares of GW Pharmaceuticals PLC- in a research report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $126.01.

The stock’s market cap is $1.82 billion. The company’s 50 day moving average price is $91.14 and its 200 day moving average price is $78.04.

GW Pharmaceuticals PLC- (NASDAQ:GWPH) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.21) by $1.15. The company had revenue of $3.10 million for the quarter, compared to analyst estimates of $3.63 million. During the same quarter last year, the company posted ($0.09) earnings per share. The firm’s quarterly revenue was down 73.3% on a year-over-year basis. Equities research analysts anticipate that GW Pharmaceuticals PLC- will post ($4.52) EPS for the current year.

A hedge fund recently raised its stake in GW Pharmaceuticals PLC- stock. Trexquant Investment LP increased its stake in GW Pharmaceuticals PLC- (NASDAQ:GWPH) by 188.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,719 shares of the biopharmaceutical company’s stock after buying an additional 15,509 shares during the period. Trexquant Investment LP owned approximately 0.11% of GW Pharmaceuticals PLC- worth $1,647,000 at the end of the most recent reporting period.

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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