GW Pharmaceuticals – one of the most appealing stock during the coronavirus pandemic?
GW Pharmaceuticals (NASDAQ: GWPH) is a UK-based innovative venture with a solid 20-year track record leveraging the power of cannabinoid therapeutics. GW’s medicines treat patients with conditions such as sclerosis and childhood-onset epilepsy. This appealing hemp stock took a devastating hit during the Coronavirus Pandemic but has since then been able to rally – bouncing back to $123/share today after its March 16th low of $72/share. GW Pharmaceuticals reported $120.6 million in profits during the first quarter of the year, which allowed it to recover from the net losses of $8 million caused by the Coronavirus, leaving it in a reasonably desirable situation from an investor’s perspective.
The question is – could the pandemic make GW Pharmaceuticals stock even more valuable?
The current pandemic situation caused by the COVID-19 virus provides plenty of room for growth in the cannabis industry, particularly for companies such as GW Pharmaceuticals, which are committed to the medicinal use of cannabis to treat series maladies. It has recently been discovered that extracts of Cannabis Sativa can be used to control viral receptor activity in the human body by 73%, according to a study conducted by the University of Lethbridge. GW Pharmaceuticals has had success in the past with similar pharmaceutical uses of marijuana. For example, the company’s ‘Sativex’ has been used to treat spasms in patients with several sclerosis successfully in the past, and much more is expected to come from GW Pharmaceuticals.
GW Pharmaceuticals: One of the best hemp stocks for 2020?
Companies responsible for dealing with high-CBD, hemp varieties for medical purposes (prescription cannabinoid medicines and pharmaceutical products) can be a safer play in the cannabis industry. Although competition is growing, hemp stocks such as GW Pharmaceuticals and Charlotte’s Web can be less risky cannabis stock investments when compared to their counterparts like Aurora Cannabis (NYSE: ACB), Tilray (NASDAQ: TLRY), and Curaleaf (OTC: CURLF). These companies focus primarily on cannabis products meant to be consumed for recreational purposes. While these companies are still great potential long-term investments, we still think GW Pharmaceuticals is the safer play.
However, the coronavirus pandemic may have put a halt to clinical trials in testing the effects of cannabis and hemp products in treating the virus. GW Pharmaceuticals is expected to resume research and development again, along with adding the final touches to Epidiolex used in treating Rett Syndrome. The company plans to be able to commercially launch Epidiolex, after gaining FDA approval sometime in summer this year. The additional potential for GW Pharmaceuticals to find cannabis-fueled treatments for the COVID-19 virus makes the stock even more exciting!
GW Pharmaceuticals – one of the most appealing hemp stocks during the coronavirus pandemic?
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