Buzz Stocks: GW Pharmaceuticals PLC, Williams Companies Inc, and HeartWare International Inc

Today's stocks to watch in the news include GW Pharmaceuticals PLC - ADR (NASDAQ:GWPH), Williams Companies Inc (NYSE:WMB), and HeartWare International Inc (NASDAQ:HTWR)

Josh Selway

Jun 27, 2016 at 9:30 AM

MDT
HTWR
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Dow futures are signaling another sell-off this morning, as last week's "Brexit" vote continues to weigh on stocks pre-market. Among the equities in focus today are biotech stock GW Pharmaceuticals PLC - ADR (NASDAQ:GWPH), pipeline expert Williams Companies Inc (NYSE:WMB), and medical device firm HeartWare International Inc (NASDAQ:HTWR).

GWPH is set to pop 10% when the market opens, thanks to news the company's cannabis-based epilepsy drug, Epidiolex, met its main goal in a late-stage trial. After settling Friday at $83.31, the stock is 20% higher in 2016, though it slipped below its 60-day moving average last week for the first time since March. Still, analysts have high hopes for GW Pharmaceuticals PLC, as all the brokerage firms tracking the drugmaker recommend buying it.

WMB is down almost 3% in electronic trading, after a judge ruled Energy Transfer Equity LP (NYSE:ETE) is allowed to back out of the companies' $20 billion merger agreement. Despite the news, Evercore ISI raised its price target on WMB stock to $24 from $21. Plus, Williams Companies Inc -- which closed Friday at $21.31 -- could find support at the round $20 level, an area that previously acted as resistance. Short sellers are likely hoping to see WMB fall even further, though, as short interest on the stock exploded by over 30% in the most recent reporting period.

HTWR has almost doubled in value in pre-market action, following news the company agreed to be purchased by Medtronic PLC (NYSE:MDT) for $1.1 billion, or $58 per share. Given HeartWare International Inc's technical performance coming into today, shareholders have to be overjoyed. Specifically, the stock has dropped well over half its value in the past 12 months to trade at $29.98. Conversely, short sellers are set for a terrible day, considering almost 15% of HTWR's float is sold short.

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