Oppenheimer Upgrades GW Pharma (GWPH) to Outperform

Oppenheimer analyst Esther Rajavelu upgraded GW Pharma (NASDAQ: GWPH) from Perform to Outperform with a price target of $162.00 (from $234.00).

The analyst comments "GWPH reported strong Epidiolex uptake, driven by new patients, bolus 4Q patients, and conversion of most EAP/OLE patients to reimbursable programs. More importantly (in our view), the company also shared positive topline results from a Phase 3 study of Epidiolex in patients with seizures associated with tuberous sclerosis complex (TSC). While we await detailed data that may be shared at a medical conference, we update our probability of approval of the sNDA for TSC to 87% from 41% (filing expected in 4Q), and move to an Outperform rating and a price target of $234 (vs. $162). We also like management's efforts to broaden the pipeline with open-label studies of CBDV for autism spectrum disorder and Rett syndrome which may contribute to a diversified portfolio."

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 $192.43 yesterday.

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