Leerink Partners Resumes GW Pharma (GWPH) at Outperform
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Leerink Partners resumes coverage on GW Pharma (NASDAQ: GWPH) with a Outperform rating and a price target of $162.00.
Analyst Paul Matteis commented, "We are highly positive on the potential uptake trajectory of Epidiolex, the approval for which appears mostly de-risked after 3 successful ph III trials in Dravet Syndrome (DS) & Lennox Gastaut (LGS). As GW approaches the next stage of its life-cycle - where ahead of approval, investors will wonder if GW will sell or launch independently - we believe either path offers an avenue to stock upside. While nascent commercial biotechs tend to pioneer relatively slow product rollouts, we see multiple points of optimism regarding a GW-led global launch: (1) strong clinical profile of, and "hype" surrounding Epidiolex - >1,000 patients on drug today; (2) significant level of unmet medical need in DS, LGS & refractory seizures; (3) small subset of core prescribers - just ~4-5k epileptologists in the US; (4) the experience of CCO Julian Gangoli, who previously ran commercial for Allergan North America."
Shares of GW Pharma closed at $132.68 yesterday.
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