logo-loader

Leerink Partners starts coverage of GW Pharmaceuticals with Outperform rating and $185 price target

Published: 15:18 14 Nov 2018 GMT

brain undergoing a seizure
GW Pharma's second product Sativex for multiple sclerosis could see global sales of $340m in 2030

The investment bank Leerink Partners has initiated coverage of GW Pharmaceuticals PLC (NASDAQ:GWPH), with an Outperform rating and a $185 price target, according to a report in the business news site TheFly.com.

Leerink analyst Marc Goodman thinks the company’s lead product Epidolex, a cannabidiol oral medication for the treatment of seizures, which takes aim at Dravet syndrome and Lennox Gastaut syndrome, should be a blockbuster drug with sales of about $1.8 billion in 2026.

READ: Morgan Stanley raises GW Pharmaceuticals price target to $240 on cannabis epilepsy drug Epidiolex

GW Pharma’s second product Sativex which treats multiple sclerosis spasticity, receives minimal attention, but could grab global sales of about $340 million in 2030, according to Goodman.

In addition, GW Pharma’s cannabinoid science platform and “proprietary know-how” in this area should allow it to develop additional products to sustain growth, Goodman argued.

GW Pharma American Depositary shares slipped slightly to hit $131.99 in Wednesday’s trading session.

 

Contact Ellen Kelleher at ellen@proactiveinvestors.com

Oriole Resources outlines 2023 achievements and future exploration plans

Oriole Resources PLC (AIM:ORR) CEO Tim Livesey and chief financial officer Bob Smeeton join Proactive's Stephen Gunnion with details of the company's 2023 financial and operational performance. Livesey highlighted successful exploration programs in Cameroon, at the Bibemi and Mbe projects,...

19 minutes ago