Piper Jaffray assumed coverage on shares of GW Pharmaceuticals Plc – American Depositary Shares (NASDAQ:GWPH) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm issued an overweight rating and a $73.00 price target on the stock.
“We are initiating, resuming or assuming coverage on 16 biotechnology companies. We believe the outlook for the biotech sector in 2014 remains strong, although the tape may be somewhat choppy as the average large-cap biotech growth stock multiple is now above that of growth stocks in other sectors. However, with long product cycles, attractive pipeline assets not reflected in valuations, new clinical data and commercial catalysts and potential for further increases to consensus, we believe biotech will still deliver attractive returns to investors. Our top large-cap picks are GILD, AMGN and ALXN. Our top small/mid cap picks are GWPH, NKTR, CMRX, INSM, VNDA and RPRX.,” Piper Jaffray’s analyst wrote.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity raised their price target on shares of GW Pharmaceuticals Plc – American Depositary Shares from $39.00 to $41.00 in a research note to investors on Wednesday, November 20th. They now have a buy rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of GW Pharmaceuticals Plc – American Depositary Shares from $33.00 to $40.00 in a research note to investors on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and an average target price of $43.00.
GW Pharmaceuticals Plc – American Depositary Shares (NASDAQ:GWPH) traded up 5.71% on Tuesday, hitting $37.00. 298,726 shares of the company’s stock traded hands. GW Pharmaceuticals Plc – American Depositary Shares has a 52 week low of $8.46 and a 52 week high of $37.00. The stock’s 50-day moving average is $31.30 and its 200-day moving average is $16.36. The company’s market cap is $547.2 million.
GW Pharmaceuticals Plc – American Depositary Shares (NASDAQ:GWPH) last posted its quarterly earnings results on Tuesday, November 19th. The company reported ($0.29) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.19) by $0.10. Analysts expect that GW Pharmaceuticals Plc – American Depositary Shares will post $-0.53 EPS for the current fiscal year.
GW Pharmaceuticals plc is a United Kingdom-based company. The Company is engaged in the research, development and commercialization of a range of cannabinoid prescription medicines to meet patient needs in a range of medical conditions.
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