In a recently released analyst research report, Oppenheimer & Co. analyst Esther Rajavelu reiterated their buy rating on shares of cannabinoid-based pharmaceutical innovator GW Pharmaceuticals Plc (NASDAQ:GWPH) with a price target that sits just below the last traded price.
Recently, Morgan Stanley analyst David Lebowitz, CFA set a far higher price target for shares of GWPH, citing potential FDA delays for a competing product to Epidiolex.
Raised from $142.00 USD per share, Esther Rajavelu’s new GWPH price target of $162.00 USD per share implies a potential downside of approximately 5.79% based on the last traded price of $171.95 USD per share on the NASDAQ.
According to TheFly, “Oppenheimer analyst Esther Rajavelu raised her price target for GW Pharmaceuticals to $162 from $142 following a brief poll to screen for prescribers’ views on Epidiolex and gauge potential for broader uptake. The analyst notes that a majority of respondents have prescribed Epidiolex to less than 5% of patients, however, they consider it equally as/more effective than other therapies. Further, most have had less than 10% of treated patients experience adverse events, an almost equal proportion of prescribers manage AEs by reducing Epidiolex or other medications, and over next 12-18 months, most respondents plan to increase Epidiolex prescriptions, she adds. Rajavelu continues to view GW Pharmaceuticals as a good launch story. She reiterates a Perform rating on the shares.”
Be sure to subscribe to updates here so you never miss an important development.
Get Real-Time Updates from MJobserver.com