GW Pharma (GWPH), Insys Therapeutics (INSY) Cara (CARA) on Watch Ahead of DEA Marijuana Policy Announcement

August 11, 2016 8:21 AM EDT
Get Alerts GWPH Hot Sheet
Price: $117.98 -1.54%

Rating Summary:
    9 Buy, 0 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 18 | New: 30
Trade GWPH Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

GW Pharma (NASDAQ: GWPH), Cara Therapeutics (NASDAQ: CARA) and Insys Therapeutics, Inc. (NASDAQ: INSY), among other cannabis stocks are on watch today as the The Drug Enforcement Administration (DEA) is expected to announced it will boost the supply of research-grade marijuana available for scientists, pharmaceutical companies, and others. The announcment is expected at 9AM.

The DEA may also announce that it will not reclassify marijuana from a Schedule I to a Schedule II controlled substance.

According to Height Securities analyst Stefanie Miller, should marijuana remain a Schedule I substance the news would be negative especially for GW Pharmaceuticals, but also Insys Therapeutics.

"We do not believe, however, a setback today by the DEA is indicative of the broader political trend and state-by-state destigmatization of marijuana that will likely lead to a country-wide legalization probably sometime between 2020 and 2022 and Congressional legislation that directly removes current banking and financing risk sometime between 2018 and 2019," she added.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Hot Comments, Trader Talk

Add Your Comment