Bank of New York Mellon Corp Acquires 7,496 Shares of GW Pharmaceuticals PLC- (GWPH)

Bank of New York Mellon Corp boosted its holdings in shares of GW Pharmaceuticals PLC- (NASDAQ:GWPH) by 134.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,053 shares of the biopharmaceutical company’s stock after buying an additional 7,496 shares during the period. Bank of New York Mellon Corp’s holdings in GW Pharmaceuticals PLC- were worth $1,822,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. WealthTrust Fairport LLC acquired a new stake in shares of GW Pharmaceuticals PLC- in the 1st quarter valued at $104,000. BNP Paribas Arbitrage SA boosted its stake in shares of GW Pharmaceuticals PLC- by 497.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,200 shares of the biopharmaceutical company’s stock valued at $167,000 after purchasing an additional 999 shares in the last quarter. Comerica Bank acquired a new stake in shares of GW Pharmaceuticals PLC- in the 2nd quarter valued at $203,000. Suntrust Banks Inc. acquired a new stake in shares of GW Pharmaceuticals PLC- in the 1st quarter valued at $227,000. Finally, Douglass Winthrop Advisors LLC acquired a new stake in shares of GW Pharmaceuticals PLC- in the 2nd quarter valued at $227,000. Hedge funds and other institutional investors own 75.44% of the company’s stock.

GW Pharmaceuticals PLC- stock opened at $143.32 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.67 and a quick ratio of 8.21. GW Pharmaceuticals PLC- has a 12-month low of $101.07 and a 12-month high of $179.65. The stock has a market capitalization of $4.80 billion, a P/E ratio of -20.62 and a beta of 2.61.

GW Pharmaceuticals PLC- (NASDAQ:GWPH) last released its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.40) by $1.14. GW Pharmaceuticals PLC- had a negative return on equity of 47.65% and a negative net margin of 1,392.61%. The business had revenue of $3.46 million during the quarter, compared to analysts’ expectations of $2.00 million. As a group, sell-side analysts predict that GW Pharmaceuticals PLC- will post -9.11 EPS for the current fiscal year.

Several equities research analysts have recently commented on the stock. Morgan Stanley set a $227.00 target price on shares of GW Pharmaceuticals PLC- and gave the company a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded shares of GW Pharmaceuticals PLC- from a “hold” rating to a “strong-buy” rating and set a $168.00 target price on the stock in a research note on Wednesday. BidaskClub downgraded shares of GW Pharmaceuticals PLC- from a “buy” rating to a “hold” rating in a research note on Tuesday. Bank of America reaffirmed a “buy” rating and issued a $197.00 price target (up from $181.00) on shares of GW Pharmaceuticals PLC- in a report on Friday, September 28th. Finally, Cantor Fitzgerald set a $211.00 price target on GW Pharmaceuticals PLC- and gave the company a “buy” rating in a report on Thursday, September 27th. Two 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 company’s stock. The company has an average rating of “Buy” and a consensus target price of $185.00.

About GW Pharmaceuticals PLC-

GW Pharmaceuticals plc, a biopharmaceutical company, engages in discovering, developing, and commercializing cannabinoid prescription medicines using botanical extracts derived from the Cannabis plant. The company operates through three segments: Commercial, Sativex Research and Development, and Pipeline Research and Development.

Further Reading: The Role of a Fiduciary and Individual Investors

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Institutional Ownership by Quarter for GW Pharmaceuticals PLC- (NASDAQ:GWPH)

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