In a recently released analyst research report, Oppenheimer & Co. equity analysts Esther Rajavelu and Benjamin Fages cut their price target on shares of cannabinoid-based pharmaceutical innovator GW Pharmaceuticals Plc (NASDAQ:GWPH) while maintaining their outperform rating. Price target slashing included, the two analysts still see big upside for the company.
According to MarketWatch, “Analysts Esther Rajavelu and Benjamin Fages lowered their 2019 to 2020 revenue forecasts based on new patient acquisition rates and dosing regiments.”
Trimmed from $239.00 USD per share, Esther Rajavelu and Benjamin Fages’s new GWPH price target of $233.00 USD per share still implies a potential upside of approximately 83.46% based on the last traded price of $127.00 USD per share on the NASDAQ pre-market session.
“These changes lower our PT to $233 from $239, and we maintain our outperform rating as we believe Epidiolex US uptake continues to progress well, and we await management comments on EU pricing/commercial strategy,” the analysts wrote.
This comes just days after Jim Cramer wrote that he believes it could be a great buying opportunity in GWPH right now.
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