In a recently released analyst research update, Mogan Stanley‘s Senior Biotechnology Research Analyst, David Lebowitz MPH, CFA, just reiterated his Overweight rating on shares of GW Pharmaceuticals Plc (NASDAQ:GWPH) with bullish guidance.
This comes just two weeks after analysts at Cantor Fitzgerald and J.P. Morgan reiterated their buy ratings with bullish price targets. Cantor Fitzgerald & Co. Managing Director and Senior Biotechnology Analyst, Elemer Piros Ph.D. sees shares of GWPH going up to $196.00 USD per share, suggesting over 15% upside from the last traded price of $169.51 USD per share on the NASDAQ.
While Piros was bullish about GW’s sale of the Priority Review Voucher, David Lebowitz at Morgan Stanley is bullish for a different reason.
According to TheFly, “Morgan Stanley analyst David Lebowitz said he expects shares of GW Pharmaceuticals (GWPH) to be up at least 5-10% on the open following news that Zogenix (ZGNX) was issued a Refusal to File letter for Fintepla by the FDA. The RTF delays a potential competing product for Epidiolex for the treatment of seizures associated with Dravet Syndrome, Lebowitz explained. While he lacks visibility, Lebowitz said he would expect a delay of 3-6 months on the short end if Zogenix can use historic toxicity data and a delay of up to 15 months if the FDA requires new toxicity studies. Lebowitz keeps an Overweight rating on GW Pharmaceuticals shares, which are up 4% to $174.85 in pre-market trading.”
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