Why GW Pharmaceuticals (GWPH) Stock Is Soaring Today

NEW YORK (TheStreet) -- GW Pharmaceuticals (GWPH) stock is soaring, up 31.1% to $60.37 in trading on Tuesday.

The increase follows coverage initiation on the cannabis prescription drug company's stock with an "overweight" rating by analysts at Morgan Stanley (MS). The firm set a $103 price target on the company's shares.

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Analysts see the company's cannabis based epilepsy treatment drug, Epidiolex, as having "strong potential, with the epilepsy program driving valuation."

"While small and still anecdotal, there is a consistently strong and building set of data (case cohort and controlled) which highlight the positive impact of Cannabidiol  on refractory epilepsy pts," the firm said.

GWPH Chart

GWPH data by YCharts

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