Shares of GW Pharmaceuticals PLC soared 10.8% toward a 5-month high in premarket trade Wednesday, after Wall Street analysts made upbeat calls following the cannabis company's fiscal first-quarter results. J.P. Morgan analyst Cory Kasimov reiterated his overweight rating while boosting his stock price target to $180, which is 18% above Tuesday's closing price, from $134. "It's hard to see how the Epidiolex launch could have gotten off to a better start," Kasimov wrote in a note to clients. "In our view, commercial metrics to date suggest that Epidiolex should continue to impress." Epidiolex is the first cannabis-derived drug that was approved by the Food and Drug Administration. Stifel Nicolaus's Paul Matteis raised his price target to $191 from $179 and reiterated his buy rating, saying that while the launch of Epidiolex has been impressive, "progress on reimbursement is especially encouraging, as are GW's efforts to render the prescribing process easier (and drug shipment more rapid) for physicians." The stock has climbed 25.6% over the past three months through Tuesday, while the ETFMG Alternative Harvest ETF has hiked up 28.6% and the S&P 500 has gained 4.2%.