GW Pharma (GWPH) PT Lifted to $147 at Piper Jaffray on Epidiolex And Pipeline Confidence

Piper Jaffray analyst Joshua Schimmer, MD boosted his price target on Overweight-rated GW Pharma (NASDAQ: GWPH) to $147.00 (from $97.00) citing increasing Epidiolex and pipeline confidence after attended the Dravet Foundation Conference in Chicago and talking with epilepsy specialists.

Schimmer said, "We come away with greater conviction that: 1) Epidiolex is a highly attractive emerging therapy for epilepsy; 2) INSY is unlikely to compete with its own CBD on price or allow the market to genericize early; 3) GWPH's portfolio of cannabinoids will likely enable a group of products that can address the broader seizure market, including a subset of autism patients."

The firm is increasing their outer-year Epidiolex penetration estimate into the refractory seizure market from 12% to 18%, which they said still may be conservative.

For an analyst ratings summary and ratings history on GW Pharma click here. For more ratings news on GW Pharma click here.

Shares of GW Pharma closed at $96.14 yesterday.

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