Cannabis stocks have been red hot in 2019.
It’s just the beginning of a bigger move, though. In fact, analysts at Piper Jaffray said the outlook for medical cannabis, in particular, is hotter than ever.
All as millions of people living all over the world look to embrace the medicinal properties of cannabis, related companies are quickly gaining the attention of cannabis investors.
Better yet, analysts at Jefferies say the cannabis industry could reach $130 billion by 2029.
“This assumes full U.S. federal legalization, full recreational and medical legalization across Europe, full medical and recreational legalization across Lat Am, and cannabis disruption of a number of other industries,” noted the analysts, as quoted by Yahoo Finance. “Industries at risk of disruption are pharma, alcohol, health and wellness, pet care and smoking cessation.”
Of course, that can lead to further upside for stocks that do so, including Blissco Cannabis Corp. (CSE: BLIS)(OTCQB: HSTRF), CannTrust Holdings Inc. (NYSE:CTST)(TSX:TRST), and GW Pharmaceuticals (NASDAQ:GWPH).
Blissco Cannabis Corp. (BLIS)(HSTRF), a Canadian wellness cannabis brand based in British Columbia and a multi-licensed cultivator, processor, and distributor of premium cannabis, just announced that it was invited to present at the Canadian Childhood Cannabinoid Clinical Trials (C4T) Workshop at Sick Kids Hospital in Toronto on February 27 and 28.
Blissco provided an industry perspective on cannabis research and development. Aurora Cannabis (NYSE:ACB), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED), and Tilray Inc. (NASDAQ:TLRY) were also invited to present.
“I am delighted that Blissco among other industry partners agreed to support and participate in the C4T Workshop. This is the first time a diverse group of stakeholders interested in cannabinoid pediatric research, represented by research, patients/families, regulators, funders and industry under one roof,” said Stephen Barbazuk, Executive Director of the Maternal Infant Child Youth Research Network (MICYRN).
“We are honored to have the opportunity to support this project. We have a profound personal connection to pediatric hospitals, namely BC Children’s Hospital, and we feel a responsibility to support these clinical trials under the supervision of researchers and doctors to advance solutions for children facing life-threatening illnesses,” said Damian Kettlewell, Blissco CEO.
Working together, Blissco and the Ernst lab at McGill University and the Douglas Hospital Research Institute unveiled a partnership for pre-clinical research.
For More Information on Blissco Cannabis Corp., Click Here.
CannTrust Holdings (CTST) (TRST), which produces and distributes pharmaceutical grade medical cannabis products in Canada just listed on the NYSE, as of February 25, 2019 under the ticker symbol, “CTST.” It will also still list on the Toronto Stock Exchange under “TRST.”
“CannTrust has firmly established itself as one of the top licensed producers in Canada with a global platform rooted in trust, science and innovation," CannTrust CEO Peter Aceto said. "A listing on the NYSE is a natural step forward in our evolution as we look to broaden our investor base, increase the company's exposure and expand our business on an international scale."
For More Information on CannTrust Holdings Inc., Click Here.
GW Pharmaceuticals (NASDAQ:GWPH) is also a leader in the space after a strong launch for its cannabinoid oil Epidiolex in seizure treatment. The drug, which launched in November 2018, generated $4.7 million in sales between November 1 and December 31, 2018.
“More than 500 physicians generated dispensed prescriptions over that two-month time period. In January, the number of filled prescriptions grew by 150% over December,” reported Investor’s Business Daily. “Now, GW Pharma counts about 130 distribution centers for the CBD oil seizure treatment.”
As the only FDA-approved cannabis-based drug, Epidiolex is expected to be a big deal. In fact, analysts at Bank of America say that sales of Epidiolex could reach $74 million this year, and up to $2.2 billion by 2027. In addition, the drug is under review by the European Medicines Agency, with a recommendation from the Committee for Medicinal Products for Human Use expected in the second quarter.
For More Information on GW Pharmaceuticals, Click Here.
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