GW Pharmaceuticals initiated at Stifel

GW Pharmaceuticals initiated with a Buy at Stifel. Stifel analyst Paul Matteis started GW Pharmaceuticals with a Buy rating and $181 price target. The analyst expects a “strong” Epidiolex launch in Dravet/Lennox Gastaut with use in refractory pediatric epilepsy and put an 80% odds-of-success for Epidiolex in Tuberous Sclerosis complex. The latter could de-risk another $250M in on-label sales, Matteis tells investors in a research note. The analyst’s epilepsy physician survey suggests broad physician and patient awareness of Epidiolex ahead of the launch and he believes the 2019 consensus sales estimate of $115M “seems doable.” His believes Epidiolex will hit $1.5B in U.S. sales in 2023.

https://bit.ly/2MhAx6k