GW Pharmaceuticals PLC (NASDAQ:GWPH) announced its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($2.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.73) by $0.34, Morningstar.com reports. GW Pharmaceuticals PLC had a negative return on equity of 28.80% and a negative net margin of 1,384.41%. The firm had revenue of $3.14 million for the quarter, compared to analysts’ expectations of $2.10 million. During the same period last year, the company posted ($0.05) earnings per share.
Shares of GW Pharmaceuticals PLC (NASDAQ GWPH) traded down 1.57% during midday trading on Friday, hitting $99.92. 337,185 shares of the stock were exchanged. The firm’s market cap is $2.53 billion. GW Pharmaceuticals PLC has a 12-month low of $79.62 and a 12-month high of $137.88. The firm has a 50-day moving average price of $107.69 and a 200 day moving average price of $112.86.
Several hedge funds and other institutional investors have recently bought and sold shares of GWPH. Janus Henderson Group PLC bought a new position in GW Pharmaceuticals PLC during the second quarter worth approximately $70,128,000. Jennison Associates LLC increased its position in GW Pharmaceuticals PLC by 212.1% in the first quarter. Jennison Associates LLC now owns 466,345 shares of the biopharmaceutical company’s stock worth $56,400,000 after buying an additional 316,926 shares in the last quarter. Redmile Group LLC increased its position in GW Pharmaceuticals PLC by 33.8% in the second quarter. Redmile Group LLC now owns 444,936 shares of the biopharmaceutical company’s stock worth $44,605,000 after buying an additional 112,392 shares in the last quarter. Renaissance Technologies LLC bought a new position in GW Pharmaceuticals PLC during the first quarter worth approximately $10,909,000. Finally, Nomura Holdings Inc. bought a new position in GW Pharmaceuticals PLC during the first quarter worth approximately $9,389,000. 74.98% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on the stock. Maxim Group cut shares of GW Pharmaceuticals PLC from a “buy” rating to a “hold” rating and set a $61.00 price objective for the company. in a research report on Tuesday, August 8th. ValuEngine upgraded shares of GW Pharmaceuticals PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Zacks Investment Research cut shares of GW Pharmaceuticals PLC from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. Evercore ISI assumed coverage on shares of GW Pharmaceuticals PLC in a research report on Wednesday. They set an “outperform” rating and a $154.00 price objective for the company. Finally, Leerink Swann restated an “outperform” rating and set a $160.00 price objective (down from $162.00) on shares of GW Pharmaceuticals PLC in a research report on Thursday, August 10th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $148.55.
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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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