Pictet Asset Management Ltd. Has $17.29 Million Position in GW Pharmaceuticals PLC (GWPH)
Pictet Asset Management Ltd. increased its stake in shares of GW Pharmaceuticals PLC (NASDAQ:GWPH) by 36.4% during the second quarter, Holdings Channel reports. The firm owned 175,352 shares of the biopharmaceutical company’s stock after buying an additional 46,781 shares during the period. Pictet Asset Management Ltd.’s holdings in GW Pharmaceuticals PLC were worth $17,292,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of GWPH. Blair William & Co. IL acquired a new position in shares of GW Pharmaceuticals PLC during the first quarter valued at $207,000. Nwam LLC purchased a new stake in GW Pharmaceuticals PLC during the first quarter valued at approximately $208,000. Ameriprise Financial Inc. purchased a new stake in GW Pharmaceuticals PLC during the first quarter valued at approximately $230,000. Quantbot Technologies LP purchased a new stake in GW Pharmaceuticals PLC during the first quarter valued at approximately $231,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in GW Pharmaceuticals PLC during the second quarter valued at approximately $204,000. 75.77% of the stock is owned by institutional investors and hedge funds.
Shares of GW Pharmaceuticals PLC (GWPH) opened at 101.75 on Friday. GW Pharmaceuticals PLC has a 12 month low of $79.62 and a 12 month high of $137.88. The company has a 50-day moving average of $107.48 and a 200-day moving average of $113.40. The firm’s market cap is $2.58 billion.
GW Pharmaceuticals PLC (NASDAQ:GWPH) last posted its earnings results on Monday, August 7th. The biopharmaceutical company reported ($2.07) EPS for the quarter, missing the consensus estimate of ($1.73) by $0.34. GW Pharmaceuticals PLC had a negative return on equity of 28.80% and a negative net margin of 1,384.41%. The firm had revenue of $3.14 million during the quarter, compared to the consensus estimate of $2.10 million. During the same quarter last year, the company posted ($0.05) EPS. Equities analysts forecast that GW Pharmaceuticals PLC will post ($5.28) EPS for the current fiscal year.
Several equities research analysts have commented on GWPH shares. Maxim Group started coverage on GW Pharmaceuticals PLC in a research note on Thursday, April 20th. They set a “buy” rating and a $135.00 price objective for the company. Cantor Fitzgerald reiterated a “buy” rating and issued a $208.00 price objective on shares of GW Pharmaceuticals PLC in a report on Tuesday, May 9th. Zacks Investment Research cut GW Pharmaceuticals PLC from a “buy” rating to a “hold” rating in a report on Monday, July 24th. TheStreet cut GW Pharmaceuticals PLC from a “c-” rating to a “d+” rating in a report on Wednesday, May 10th. Finally, BidaskClub upgraded GW Pharmaceuticals PLC from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $147.94.
About GW Pharmaceuticals PLC
GW Pharmaceuticals plc is a biopharmaceutical company focused on developing and commercializing therapeutics from its cannabinoid product platform in a range of disease areas. The Company’s lead cannabinoid product candidate is Epidiolex, which is a liquid formulation of pure plant-derived cannabidiol (CBD).
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