Marijuana Stocks: GWPH Skyrockets on Morgan Stanley Coverage

by William White | April 22, 2014 1:27 pm

GW Pharmaceuticals (GWPH[1]) shares saw a huge jump[2] after Morgan Stanley’s coverage of the stock.

marjuana-stocks-gwph-gw-pharmaceuticals[3]

Morgan Stanley gave GWPH shares an “overweight” rating and set the stock’s target price at $103 a share. This would have GW Pharmaceuticals stock rising 123.72% from its previous close, reports WKRB News.

TheStreet’s[4] Jim Cramer has named GW Pharmaceuticals as his favorite cannabis stock and said that it will increase more than any stock besides Allergan (AGN[5]) on Tuesday.

Other firms that have weighed in on GWPH stock include Bank of America, Piper Jaffray and Leerink Swann. The general thoughts of these firms is that GW Pharmaceuticals stock is a buy, WKRB News notes.

GWPH shares were up 34% as of Tuesday afternoon.

More Stocks in the News

Endnotes:

  1. GWPH: http://studio-5.financialcontent.com/investplace/quote?Symbol=GWPH
  2. a huge jump: http://www.wkrb13.com/markets/294738/gw-pharmaceuticals-plc-coverage-initiated-at-morgan-stanley-gwph/
  3. [Image]: https://investorplace.com/wp-content/uploads/2014/04/gw-pharmaceuticals-logo.jpg
  4. TheStreet’s: http://www.thestreet.com/story/12674098/1/jim-cramers-stop-trading-gwph.html
  5. AGN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AGN
  6. MCD: McDonald’s Misses on Sales and Earnings: https://investorplace.com/2014/04/mcd-mcdonalds-misses-sales-earnings/
  7. LMT: Lockheed Martin Beats Street, Boosts Outlook: https://investorplace.com/2014/04/lmt-lockheed-martin/
  8. LXK: Lexmark Stock Falls Hard on Forecast: https://investorplace.com/2014/04/lxk-lexmark/

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