Financial Trading Blog
Stock of the day 08/05/2015 – GW Pharmaceuticals PLC
The cannabis-based pharma company’s growth on the markets has been robust over the past 15 months, starting 2014 at £1.99 before closing out the year at £3.69. A brief foray to lows to £3.10 in the first week of January didn’t last long, and by the end of April GW Pharmaceuticals was trading at an intraday all-time high of £6.95, before falling off slightly to a current trading price of £6.04. Its American listing has seen similar success, hitting a high of $126.61 at the end of April after opening the year at $68.31.
(Source: IT-Finance.com 07/05/2015)
The company clearly has expansion on the mind with it recently raised $179 million by issuing 1.6 million American Depositary Shares to be listed on the NASDAQ Global Market, where GW Pharmaceuticals is currently trading at $108.55.
(Source: IT-Finance.com 07/05/2015)
Obviously for a pharmaceutical company what it has it its pipeline is of incredible importance to investors. GW has just entered phase 2 of its adult epilepsy drug cannabidivarin (which GW has the patent for in Britain with a notice for a US patent attached to the portfolio), whilst its child epilepsy studies for its drug Epodiolex have entered phase 3. It has also recently received Orphan Drug Status (a drug developed for a rare medical condition) for the use of cannabidiol on Dravet Syndrome in new-born babies. These positive developments have helped push GW Pharmaceuticals to its recent all-time highs with investors buoyed by the company’s outlook.
Results back in December saw a full year pre-tax loss of $31.7 million with an $18.7 million rise in revenue to $48.7 million countered by expanding R&D costs, which grew from $43.5 million to $79.5 million, so investors will be looking for an improvement on these figures. Analysts appear just as bullish on the stock as investors, giving GW Pharmaceutical a consensus rating of ‘buy’ and an average target price for its US listing of $117.86.
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