Shares of GW Pharmaceuticals PLC (NASDAQ:GWPH) rose 6.9% during trading on Wednesday . The company traded as high as $104.44 and last traded at $110.88. Approximately 633,952 shares changed hands during trading, an increase of 78% from the average daily volume of 355,891 shares. The stock had previously closed at $103.73.

GWPH has been the subject of a number of recent research reports. Maxim Group set a $135.00 price objective on GW Pharmaceuticals PLC and gave the stock a “buy” rating in a research report on Thursday, June 8th. BidaskClub upgraded GW Pharmaceuticals PLC from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. ValuEngine upgraded GW Pharmaceuticals PLC from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Zacks Investment Research cut GW Pharmaceuticals PLC from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Finally, Cantor Fitzgerald set a $208.00 price target on GW Pharmaceuticals PLC and gave the company a “buy” rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $149.83.

The company’s 50 day moving average is $105.92 and its 200-day moving average is $108.31. The firm’s market capitalization is $2.90 billion.

GW Pharmaceuticals PLC (NASDAQ:GWPH) last posted its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, missing the consensus estimate of ($1.73) by ($0.34). The business had revenue of $3.14 million for the quarter, compared to analyst estimates of $2.10 million. GW Pharmaceuticals PLC had a negative net margin of 1,384.41% and a negative return on equity of 28.80%. During the same period in the previous year, the firm posted ($0.05) earnings per share. On average, equities analysts forecast that GW Pharmaceuticals PLC will post ($5.94) earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. increased its position in GW Pharmaceuticals PLC by 37.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 3,119 shares of the biopharmaceutical company’s stock worth $313,000 after purchasing an additional 855 shares during the last quarter. IHT Wealth Management LLC increased its position in GW Pharmaceuticals PLC by 18.0% in the 2nd quarter. IHT Wealth Management LLC now owns 656 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 100 shares during the last quarter. Redmile Group LLC increased its position in GW Pharmaceuticals PLC by 33.8% in the 2nd quarter. Redmile Group LLC now owns 444,936 shares of the biopharmaceutical company’s stock worth $44,605,000 after purchasing an additional 112,392 shares during the last quarter. State Street Corp acquired a new position in GW Pharmaceuticals PLC in the 2nd quarter worth about $212,000. Finally, Janus Henderson Group PLC acquired a new position in GW Pharmaceuticals PLC in the 2nd quarter worth about $70,128,000. 75.06% of the stock is currently owned by institutional investors.

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GW Pharmaceuticals PLC Company Profile

GW Pharmaceuticals plc is a biopharmaceutical company focused on developing and commercializing therapeutics from its cannabinoid product platform in a range of disease areas. The Company’s lead cannabinoid product candidate is Epidiolex, which is a liquid formulation of pure plant-derived cannabidiol (CBD).

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