Wall Street brokerages forecast that GW Pharmaceuticals PLC (NASDAQ:GWPH) will announce sales of $2.61 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for GW Pharmaceuticals PLC’s earnings. The highest sales estimate is $2.99 million and the lowest is $2.23 million. GW Pharmaceuticals PLC reported sales of $2.16 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.8%. The business is expected to issue its next quarterly earnings report on Monday, December 4th.
On average, analysts expect that GW Pharmaceuticals PLC will report full year sales of $2.61 million for the current fiscal year, with estimates ranging from $8.24 million to $11.04 million. For the next year, analysts expect that the company will report sales of $80.02 million per share, with estimates ranging from $45.28 million to $102.06 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow GW Pharmaceuticals PLC.
GW Pharmaceuticals PLC (NASDAQ:GWPH) last announced its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($2.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.73) by $0.34. GW Pharmaceuticals PLC had a negative net margin of 1,384.41% and a negative return on equity of 27.57%. The business had revenue of $3.14 million for the quarter, compared to analysts’ expectations of $2.10 million. During the same period in the prior year, the company posted ($0.05) EPS.
GWPH has been the topic of several analyst reports. Cantor Fitzgerald reiterated a “buy” rating and set a $208.00 price target on shares of GW Pharmaceuticals PLC in a report on Tuesday, May 9th. Maxim Group initiated coverage on GW Pharmaceuticals PLC in a report on Thursday, April 20th. They set a “buy” rating and a $135.00 price target on the stock. Zacks Investment Research upgraded GW Pharmaceuticals PLC from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a report on Monday, July 17th. TheStreet downgraded GW Pharmaceuticals PLC from a “c-” rating to a “d+” rating in a report on Wednesday, May 10th. Finally, BidaskClub upgraded GW Pharmaceuticals PLC from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $148.16.
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Several large investors have recently made changes to their positions in the company. Jennison Associates LLC increased its stake in shares of GW Pharmaceuticals PLC by 212.1% in the first quarter. Jennison Associates LLC now owns 466,345 shares of the biopharmaceutical company’s stock valued at $56,400,000 after buying an additional 316,926 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of GW Pharmaceuticals PLC during the first quarter valued at about $10,909,000. Nomura Holdings Inc. bought a new stake in shares of GW Pharmaceuticals PLC during the first quarter valued at about $9,389,000. Pictet Asset Management Ltd. increased its stake in shares of GW Pharmaceuticals PLC by 81.1% in the first quarter. Pictet Asset Management Ltd. now owns 128,571 shares of the biopharmaceutical company’s stock valued at $15,549,000 after buying an additional 57,578 shares during the last quarter. Finally, Clough Capital Partners L P increased its stake in shares of GW Pharmaceuticals PLC by 107.6% in the first quarter. Clough Capital Partners L P now owns 98,200 shares of the biopharmaceutical company’s stock valued at $11,876,000 after buying an additional 50,900 shares during the last quarter. Institutional investors and hedge funds own 75.77% of the company’s stock.
Shares of GW Pharmaceuticals PLC (NASDAQ:GWPH) traded down 6.7516% during mid-day trading on Friday, reaching $100.3259. 453,609 shares of the company traded hands. The company’s market capitalization is $2.54 billion. GW Pharmaceuticals PLC has a 52 week low of $79.62 and a 52 week high of $137.88. The stock’s 50-day moving average is $107.01 and its 200-day moving average is $113.94.
About GW Pharmaceuticals PLC
GW Pharmaceuticals plc is a biopharmaceutical company focused on developing and commercializing therapeutics from its cannabinoid product platform in a range of disease areas. The Company’s lead cannabinoid product candidate is Epidiolex, which is a liquid formulation of pure plant-derived cannabidiol (CBD).
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