Top 5 Cannabis Stocks To Buy Now

2. GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH)

UK-based GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) has been one of the top “cannabis” stocks long before cannabis became mainstream. This is because the company has been working with cannabinoids and its multiple sclerosis treatment product Sativex (nabiximols) was the first natural cannabinoid-based drug to receive regulatory approval. In 2018, the US FDA approved GW Pharmaceuticals’ Epidiolex, another cannabis-based product for the treatment of epilepsy.

Recently, GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) announced the launch of Phase 3 trial for nabiximols in multiple sclerosis-associated spasticity. For the latest quarter, GW Pharmaceuticals reported a revenue of $137.05 million, up by 51% on the year and better than the expected $126 million. In addition, the net loss of $0.03 per share narrowed by 25% on the year and beat the consensus estimate by $0.03.

At the end of September, there were 17 hedge funds followed by Insider Monkey that held shares of GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) worth $201.23 million, versus 18 funds and $350.61 million, respectively, a quarter earlier. Among the top investors in GW Pharmaceuticals are Steve Cohen‘s Point72 Asset Management, Jeffery Jay and David Kroin’s Great Point Partners, and Charles Clough’s Clough Capital Partners.

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