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GW Pharmaceutical (GWPH: NASDAQ) has quietly outperformed most of its fellow NASDAQ companies during 2015 and Technical420 has been recommending them the whole time. GWPH is up over 15% today and over 63% this year. GWPH is a pharmaceutical company focused on developing treatments derived from cannabis. The company has an extensive product pipeline with each product in various stages of FDA testing. The company’s two main products in focus are Sativex and Epidiolex.
Upside to Wall Street Estimates
Leerink Partners LLC raised their price target on GWPH to $120 from $102. They maintain their outperform rating on the company. GWPH is one of the only companies to have Wall Street coverage.
Currently, 4 financial firms rate GWPH as a Buy. No firm has a hold or sell rating on the company. Cowan and Company has a $110 price target, Piper Jaffray has a $147 target, and Edison Investment Research has a $90 target (they probably need to update that)
American Academy of Neurology issues positive statement about Epidiolex
Today, the American Academy of Neurology (AAN) issued a statement saying GWPH’s Epidiolex product, “may show promise,” in the treatment of severe epilepsy in children.
The AAN provided the results of a study of 213 people (median age of 11) who suffered from severe epilepsy and did not respond to other treatments. For the 137 people who completed the 12-week study, the number of seizures decreased by an average of 54%.
Among the 23 people with Dravet syndrome who finished the study, the number of convulsive seizures had gone down by 53%. For the 11 people with Lennox-Gastaut syndrome who finished the study, there was a 55% reduction in the number of atonic seizures, which cause a sudden loss of muscle tone. A total of 12 people, or 6%, stopped taking the drug due to side effects.
GWPH is advancing its formal clinical development program in order to seek FDA approval for Epidiolex in the treatment of Dravet syndrome and Lennox-Gastaut syndrome. The company recently started the first of two Phase 3 trials in Dravet syndrome and expects to begin Phase 3 trials in Lennox-Gastaut syndrome in Q2 2015.
Merrill Lynch increased the size of its International Equity Portfolio which holds GWPH
Michael Berger, President of Technical420, spoke with Stephen Schultz, VP of Investor Relations at GW Pharmaceutical, to get some insight into the company’s recent rally.
Yesterday, shares of GWPH rallied and the stock was up over 5%. Schultz said that Merrill Lynch (Bank of America) increased the size of its International Equity Portfolio, which hold shares of GWPH. Therefore, the company increased the number of shares of GWPH in the portfolio.
Outlook
GWPH has been outperforming the market this year, but the company still trades at a discount to the average Wall Street price target. Yesterday, shares of GWPH rallied and the stock was up over 5% because that Merrill Lynch/Bank of America increased the size of its International Equity Portfolio, which hold shares of GWPH. Technical420 is favorable on GWPH and we think the company has a lot of catalysts for growth.
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