GW Pharmaceuticals upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Salveen Richter upgraded GW Pharmaceuticals to Buy and raised his price target for the shares to $174 from $124. The British biopharmaceutical company closed yesterday up $1.66 to $123.98. Recent clobazam drug-drug interaction data showing independent and synergistic Epidiolex activity addresses a key investor concern, Richter tells investors in a research note. The analyst's checks with key opinion leaders indicate substantial interest in Epidiolex adoption and off-label use in children and adults, which he believes bodes well for the launch. He models for 2025 worldwide peak sales of $2.2B and sees multiple pipeline catalysts in 2018.