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Fly News Breaks for February 26, 2019
GWPH
Feb 26, 2019 | 17:07 EDT
Piper Jaffray analyst Danielle Brill says GW Pharmaceuticals' Epidiolex revenues of $4.7M for the first quarter of commercial launch beat her $3.7M and consensus $2.5M estimate. While these numbers "solidly beat expectations," they are still not truly representative of Epidiolex's launch trajectory, Brill tells investors in a post-earnings research note titled "Epidiolex Metrics Signify a Hugely Successful Launch." She notes that Q4 was a stub quarter, as Eepidiolex launched in early November, which included two holiday weeks and that refill rates were likely very low due to protracted initial turnaround times. The analyst expects to see "significant" revenue growth in the coming quarters. She has an Overweight rating on GW Pharmaceuticals, which is trading up 8.1%, or $12.41, to $165.30 following the earnings report.
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