Needham analyst Serge Belanger initiated coverage of GW Pharmaceuticals with a Buy rating and $200 price target, saying its Epidiolex is on a "fast track" to a "blockbuster" drug after becoming the first FDA-approved CBD therapeutic last year. The analyst notes that thus far, Epidiolex has exceeded its early launch expectations given the "pent-up demand" and broad product awareness, along with an unmet need for treating rare pediatric disorders, adding that its blockbuster potential is highlighted by the 104% sequential increase in Q2 sales to $68.4M. Belanger adds that the recent pullback in the stock price was driven by "inaccurate" reporting of safety events and presents an attractive entry opportunity.