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Marijuana-Focused Biotech Companies in Q3: Are They Performing?

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Marijuana-focused biotech companies

Biotechnology companies focused on marijuana-based products include GW Pharmaceuticals (GWPH), Cara Therapeutics (CARA), and Insys Therapeutics (INSY). In this series, we’ll look at these stocks and how they performed in the third quarter.

The above chart compares the normalized stock prices for the above-mentioned companies since January.

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GW Pharmaceuticals

GW Pharmaceuticals (GWPH), a biotechnology company, develops and commercializes products based on its cannabinoid product platform. Its stock rose 15.7% in the third quarter. It has increased 24.3% year-to-date to close at $164.07 on October 3.

Cara Therapeutics

Cara Therapeutics (CARA), a clinical stage biotechnology company, develops and commercializes chemical entities based on kappa opioid receptors for the treatment of pruritus and pain management. CARA stock rose ~12.5% in the third quarter and has increased 84.8% year-to-date to close at $22.62 on October 3.

Insys

Insys Therapeutics (INSY), a specialty pharmaceutical company, develops and commercializes supportive care products, including Subsys (fentanyl sublingual spray) and cannabinoid products. INSY stock rose ~36.9% in the third quarter and 2.9% year-to-date to close at $9.90 on October 3.

We’ll look at analysts’ estimates, recommendations, valuations, and revenue performances for these companies in this series.

The iShares Nasdaq Biotechnology ETF (IBB) holds 0.5% of its total investments in GW Pharmaceuticals (GWPH), 0.1% in Cara Therapeutics (CARA), 0.1% in Insys Therapeutics (INSY), and 0.1% in Corbus Pharmaceuticals Holdings (CRBP).

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