GW Pharmaceuticals PLC- (NASDAQ:GWPH) Stock Price Up 9.2% on Strong Earnings

GW Pharmaceuticals PLC- (NASDAQ:GWPH) shares rose 9.2% on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $168.45 and last traded at $166.37, approximately 2,091,907 shares traded hands during trading. An increase of 374% from the average daily volume of 440,944 shares. The stock had previously closed at $152.42.

The biopharmaceutical company reported ($0.78) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.74) by $0.96. The business had revenue of $72.04 million for the quarter, compared to analysts’ expectations of $37.28 million. GW Pharmaceuticals PLC- had a negative net margin of 458.79% and a negative return on equity of 45.75%. The company’s revenue was up 2096.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.25) EPS.

GWPH has been the topic of several analyst reports. BidaskClub cut shares of GW Pharmaceuticals PLC- from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 24th. Cowen restated a “buy” rating and set a $200.00 target price on shares of GW Pharmaceuticals PLC- in a research note on Friday, July 26th. Morgan Stanley restated a “buy” rating on shares of GW Pharmaceuticals PLC- in a research note on Tuesday, April 9th. ValuEngine cut shares of GW Pharmaceuticals PLC- from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research cut shares of GW Pharmaceuticals PLC- from a “buy” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $203.91.

In other GW Pharmaceuticals PLC- news, Director James Noble sold 82,596 shares of GW Pharmaceuticals PLC- stock in a transaction on Friday, May 24th. The shares were sold at an average price of $15.32, for a total value of $1,265,370.72. Following the sale, the director now directly owns 41,979 shares in the company, valued at approximately $643,118.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Julian S. Gangolli sold 671,928 shares of GW Pharmaceuticals PLC- stock in a transaction on Friday, May 10th. The shares were sold at an average price of $14.84, for a total transaction of $9,971,411.52. Following the completion of the sale, the insider now owns 510,352 shares in the company, valued at $7,573,623.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,047,660 shares of company stock worth $15,647,815. 3.60% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE increased its holdings in shares of GW Pharmaceuticals PLC- by 0.6% in the 1st quarter. US Bancorp DE now owns 11,683 shares of the biopharmaceutical company’s stock worth $1,969,000 after buying an additional 75 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in GW Pharmaceuticals PLC- by 14.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 601 shares of the biopharmaceutical company’s stock valued at $101,000 after purchasing an additional 78 shares during the last quarter. Brandywine Oak Private Wealth LLC grew its holdings in GW Pharmaceuticals PLC- by 6.0% during the 1st quarter. Brandywine Oak Private Wealth LLC now owns 1,435 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 81 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in GW Pharmaceuticals PLC- by 4.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,014 shares of the biopharmaceutical company’s stock valued at $347,000 after purchasing an additional 92 shares during the last quarter. Finally, Advisory Services Network LLC grew its holdings in GW Pharmaceuticals PLC- by 23.1% during the 4th quarter. Advisory Services Network LLC now owns 511 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 78.87% of the company’s stock.

The stock has a market cap of $4.70 billion, a P/E ratio of -15.75 and a beta of 2.25. The business’s fifty day moving average price is $168.01. The company has a quick ratio of 7.19, a current ratio of 7.81 and a debt-to-equity ratio of 0.03.

GW Pharmaceuticals PLC- Company Profile (NASDAQ:GWPH)

GW Pharmaceuticals plc, a biopharmaceutical company, focuses on discovering, developing, and commercializing cannabinoid prescription medicines using botanical extracts derived from the Cannabis plant. Its lead product is Epidiolex, an oral medicine for the treatment of refractory childhood epilepsies, as well as for the treatment of Dravet syndrome, Lennox-Gastaut syndrome, tuberous sclerosis complex, and infantile spasms.

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