NEW YORK (TheStreet) -- GW Pharmaceuticals (GWPH) shares are spiking, up 8.1% to $103.98, on Monday after analysts at Piper Jaffray (PJC) drastically increased its price target to $147 from $97.
The improved valuation stems from an analyst's evaluation of the U.K. based pharmaceutical company's cannabinoid based epilepsy treatment, Epidolex.
Analysts Dr. Joshua Schimmer believes that the drug is a "highly attractive" treatment for children suffering from Dravet Syndrome, as children treated with it have fewer seizures and can take lower doses of other medicines.
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