GW PHARMACEUTICALS (OTCMKTS:GWPRF) Stock Coverage Initiated By BoA

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Dallas, Texas 03/14/2014 (FINANCIALSTRENDS) – Bank of America(BoA), a US leading financial institution announced it has started the coverage GW PHARMACEUTICALS (OTCMKTS:GWPRF) stock and has issued a “buy” rating with price target as $93.00. GW PHARMACEUTICALS which is a UK based company deals with cannabinoid medicinal research, development and commercialization and it has a market cap of around $1.173 billion. The company which reported its earnings data has announced EPS at $0.02 for the quarter, more than Thomson Reuters consensus estimate of ($0.34) by $0.32 and its revenue was up by 44.6% on a year-over-year basis. The company has a 52 week low of $8.46 and a 52 week high of $86.45. The stock’s 50-day moving average is around $60.7 and its 200-day moving average is $37.11. During January, the company witnessed significant increase in short interest. It saw an increase by 89.4% totaling 1,173,326 shares at end of February. With an average daily volume of 503,409 shares, the days-to-cover ratio is currently 2.3 days.

Other analysts have also weighed the company’s shares and provided their recommendations. Analysts at Leerink Swann initiated coverage have rated it as outperform. Seven analysts from the market have rated the company’s stock as buy. The company currently has an average rating of “buy” with price target as $46.33.

GW PHARMACEUTICALS (OTCMKTS:GWPRF) Drug Epidiolex Granted Orphan status 

GW PHARMACEUTICALS (OTCMKTS:GWPRF) recently has announced that Epidiolex has been granted orphan status by the U.S. Food and Drug Administration (FDA). Epidiolex is used for treating children with Lennox-Gastaut syndrome, which is a severe form of childhood-onset epilepsy. The company plans to set up a complete clinical development program for Epidiolex towards the treatment of both LGS and Dravet syndromes and will start clinical Phase 2 trials for Epidiolex during the second half of 2014.

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