GWPH stock is up over 9.5% at the time of writing and selling for $109. But why the good turn? Well, GW Pharmaceuticals (NASDAQ:GWPH) has received a significant nod by JP Morgan Stanley (NYSE:JPM) today. Stocks are soaring as a result.
JP Morgan analyst Cory Kasimov gave GW Pharmaceuticals a bullish rating. His price target suggests the stock will rise 32% from current levels.
The analyst said in a note to clients:
“In our view, the company is a clear leader in the field of cannabinoid science and drug development, now with two regulatory approvals (Epidiolex and Sativex) under its belt, a respectable pipeline of additional assets across an array of therapeutic indications, and a proprietary research/manufacturing platform that should enable it to sustain further growth.”
Kasimov rates the stock overweight with a $134 target. The bullish analysis has come about only two weeks after President Donald Trump signed the 2018 Farm Bill. In doing so, he legalized hemp across the entire US.
GWPH Stock: Epidiolex and Sativex
Headquartered in Cambridge, UK, GW Pharmaceuticals specializes in treating patients suffering from epileptic seizures by using cannabidiol (CBD). The company’s oral medicine Epidiolex was the first ever cannabis-derived treatment to gain FDA approval.
GWPH’s other drug, Sativex, has received approval in 25 countries outside of the US and is used to treat multiple sclerosis.
GWPH Stock in 2019
One of the most significant plays for GWPH stock is that this company has achieved what no other pharma brand has—FDA approval for a cannabis-derived drug. In the hyped-up circus that is the marijuana industry, specialty companies producing products of necessity should transcend hype, stories, and rumors.
As renowned analyst Harold Goldmeier puts it:
“Share price, fundamentals and financial technicals are all in the right place for small investors to benefit. Companies like GWPH afford insulation against share price chaos plaguing the industry induced by headlines and rumors.”
GWPH stock is on the rise at the moment, and analysts are calling it one to watch for 2019. What do you think?
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