Zacks Investment Research lowered shares of GW Pharmaceuticals PLC- (NASDAQ:GWPH) from a buy rating to a hold rating in a research report sent to investors on Friday.

According to Zacks, “GW Pharmaceuticals, a commercial-stage biopharmaceutical company, is focused on the discovery, development and commercialization of treatments from its proprietary cannabinoid product platform across a broad range of disease areas. The company announced positive data from the first phase III study on Epidiolex for the treatment of Lennox-Gastaut syndrome (LGS) late last month. We are encouraged by the company’s progress with Epidiolex, which is its lead pipeline candidate. Meanwhile, the key growth driver for GW Pharma is Sativex, marketed outside the U.S. for the treatment of spasticity due to multiple sclerosis. We are positive on the company’s efforts to expand Sativex’s label. However, GW Pharma’s drugs may face competition from other cannabinoid-based treatments available in the over-the-counter market. Additionally, the company relies heavily...