Two different firms have recently reiterated their buy ratings for shares of GW Pharmaceuticals Plc (NASDAQ:GWPH) closely following the company's filing of year-end financial and operational results. The two analysts' price targets are over $40 apart, so we wanted to fill in existing and prospective investors on the recent development.
Cowen & Co.
Phil Nadeau, the managing director and senior research analyst on the biotechnology team at Cowen & Co., reiterated his buy rating on shares of GWPH. Higgins' price target for the stock is $165.00 per share. At the time of writing this, shares of GW Pharmaceuticals were trading at $111.81 per share, representing over 47% potential upside.
Nadeau's $165 price target is just south of the average analyst price target of $208, according to TipRanks. The $165 price target is also far below the price target from Elemer Piros at Cantor Fitzgerald.
Elemer Piros, Ph.D., a healthcare and biotechnology analyst from Cantor Fitzgerald, also reiterated his buy rating on shares of GWPH. Piros' price target for the stock is $208.00 per share. At the time of writing this, shares of GW Pharmaceuticals were trading at $111.81 per share, representing over 86% potential upside.
According to TheFly, "The analyst notes that before the end of 2017, the FDA will announce whether GW's New Drug Application filing has been accepted for review."
This is the highest price target out of the three analysts covering the company.
For more cannabinoid biotech stocks, check out our biotech marijuana stock database. Be sure to subscribe to one or more of our free newsletters so you never miss an important marijuana stock update. Also, don't forget to connect with The Daily Marijuana Observer on social media via Facebook, Twitter, StockTwits, and Instagram.