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 to investors 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.”
Several other research analysts have also recently issued reports on GWPH. Vetr upgraded shares of GW Pharmaceuticals PLC from a “sell” rating to a “hold” rating and set a $91.16 target price on the stock in a report on Monday, August 8th. Cantor Fitzgerald dropped their target price on shares of GW Pharmaceuticals PLC from $181.00 to $165.00 and set a “buy” rating on the stock in a report on Tuesday, August 9th. Cowen and Company reiterated a “buy” rating and set a $135.00 target price on shares of GW Pharmaceuticals PLC in a report on Tuesday, August 9th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $147.00 target price on shares of GW Pharmaceuticals PLC in a report on Saturday, August 13th. Finally, Numis Securities Ltd upgraded shares of GW Pharmaceuticals PLC from a “sell” rating to a “hold” rating in a report on Friday, August 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $143.40.
GW Pharmaceuticals PLC (NASDAQ:GWPH) traded up 0.93% on Tuesday, hitting $118.15. 201,337 shares of the stock traded hands. The company’s market capitalization is $2.59 billion. GW Pharmaceuticals PLC has a 12 month low of $35.83 and a 12 month high of $137.88. The firm has a 50-day moving average price of $122.43 and a 200-day moving average price of $101.77.
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A number of hedge funds have recently modified their holdings of the company. Advisory Services Network LLC raised its stake in shares of GW Pharmaceuticals PLC by 1,109.2% in the third quarter. Advisory Services Network LLC now owns 786 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 721 shares during the last quarter. Advisor Group Inc. raised its position in GW Pharmaceuticals PLC by 58.2% in the third quarter. Advisor Group Inc. now owns 949 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 349 shares in the last quarter. Seven Eight Capital LLC raised 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 in the last quarter. Howard Hughes Medical Institute purchased a new position in GW Pharmaceuticals PLC during the third quarter valued at $166,000. Finally, IFP Advisors Inc raised its position in GW Pharmaceuticals PLC by 5.7% in the second quarter. IFP Advisors Inc now owns 1,859 shares of the biopharmaceutical company’s stock valued at $170,000 after buying an additional 100 shares in the last quarter. 82.87% of the stock is currently owned by hedge funds and other institutional investors.
About GW Pharmaceuticals PLC
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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