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GW Pharmaceuticals (GWPH) Stock Moving Higher After Posting Q2 Earnings

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GW Pharmaceuticals PLC (GWPH - Free Report) just released its latest quarterly financial results, posting adjusted earnings of -$3.12 per share and revenues of $3.35 million.

Currently, GWPH is a Zacks Rank #2 (Buy), but that could change based on today’s results. Shares of the company have gained about 27% over the past month but dropped slightly during regular trading hours today.

The stock is currently up 1.3% to $146.48 per share in after-hours trading shortly after its earnings report was released.

GW Pharmaceuticals:

Missed earnings estimates. The company posted an adjusted loss of $3.12 per share, missing the Zacks Consensus Estimate of $2.22 per share loss. Investors should note that this consensus projection has trended downward over the duration of the quarter.

Beat revenue estimates. The company saw revenue figures of $3.35 million, topping our consensus estimate of $2.0 million. Total revenue was up 64.2% on a year-over-year basis.

“The positive outcome of the Epidiolex FDA Advisory Committee meeting was a momentous event for GW. The strength and consistency of the clinical data, together with the public presentations that featured very moving personal stories of the challenges associated with managing these difficult forms of epilepsy, led to a unanimous vote in support of approval,” said CEO Justin Gover.

Here’s a graph that looks at GWPH’s recent price performance:

GW Pharmaceuticals plc is a biopharmaceutical company focused on discovering, developing and commercializing therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. The company's lead product, Sativex is used for the treatment of MS symptoms, cancer pain, and neuropathic pain.

Check back later for our full analysis on GWPH’s earnings report!

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