Boston, MA 04/23/2014 (wallstreetpr) – GW Pharmaceuticals PLC-ADR (NASDAQ:GWPH) continues to surge in the market by highs of 12.17% at the back of the company’s stock receiving major endorsements. Morgan Stanley kick started the endorsements by starting coverage with an “Overweight” rating. They currently have a $103 share price target on the company’s stock which is an 80% compared to the current trading margins. The second endorsement that is uplifting GW Pharmaceuticals in the markets comes from Jim Cramer.
The spike in the market is set to continue as it marks the highest target after the initial high of $97 that had been given by one research equity firm. GW Pharmaceuticals PLC-ADR (NASDAQ:GWPH) is a Biopharma company involved in the discovery development and commercialization of cannabinoid prescription medicines. The company has its headquarters in Europe but with operations in key markets of Europe U.S and Canada.
For its year ending September 2013, GW Pharmaceuticals total revenue for the year clocked in at a high of $44.2 million. Morgan Stanley project that Epidiolex will be the main driving force behind GW Pharmaceuticals surge in the market in the coming months. The drug is in development to be used for the treatment of Dravet syndrome a severe form of epilepsy
Morgan Stanley now expects Episode to recoup up to $1.35 billion in revenue once approved by the FDA. Epilodex will be a key addition into the market considering there is a huge number of children who do not respond to a wide range of drugs in the market. Finding the right drug for children suffering from Lennox Gastaut Syndrome has always remained to be a challenge of which Epilodex looks set to address
Sativex has been the driving force for GW Pharmaceuticals in the market in terms of revenue in the recent past approved for several multiple sclerosis spasticity conditions in 25 countries. GW Pharmaceutical now expects GW Pharmaceuticals’ growth to come from the U.S markets in the coming months.
GW Pharmaceuticals PLC-ADR (NASDAQ:GWPH) is reportedly having multiple drugs in early stage development that could be upside drivers in the future. When fully developed and approved the drugs could account for s significant growth in the company’s stock.
