In a recently released analyst research report, Cantor Fitzgerald & Co. Managing Director and Senior Biotechnology Analyst, Elemer Piros Ph.D., just reiterated his Overweight buy rating on ADRs of GW Pharmaceuticals Plc (NASDAQ:GWPH) with a higher price target.
Raised from his former price target of $193.00 USD per share, Elemer Piros’s new price target of $196.00 USD per share implies a potential upside of approximately 18.25% based on the last traded price of $165.75 USD per share of GWPH on the NASDAQ.
Why Piros Raised His GWPH Price Target
According to Piros, “We are reiterating our Overweight rating on GW Pharmaceuticals and raising our 12-month price target to $196/ADS from $193/ ADS following the announced sale of Voucher (PRV). As a reminder, GW Pharmaceuticals was awarded the PRV following the EPIDIOLEX approval last year. The recipient of the PRV was not announced in the press release.”
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