Shares in GW Pharmaceuticals (LSE: GWP) have risen by 125% today, which clearly puts the company at the top of the major movers list. Its shares rocketed after it released positive results from the phase three trial of a drug called Epidiolex, a treatment of a rare type of epilepsy called Dravet syndrome.

The study showed that Epidiolex achieved the primary endpoint of a significant reduction in convulsive seizures assessed over the entire treatment period, compared with placebo. This is important for the company because it represents the first placebo-controlled evidence to support the safety and efficacy of pharmaceutical cannabidiol (which is derived from cannabis) in children with Dravet syndrome. This could lead to its becoming the first FDA approved treatment option specifically for the condition and, looking ahead, more gains could be on the cards for investors in GW Pharmaceuticals.

Clearly, future news flow is a “known unknown”, but it seems plausible that the company’s shares could keep rising in the short run due to the sudden upturn in investor sentiment. As such, for less risk averse investors, GW Pharmaceuticals could be worth a closer look, although its shares are likely to be relatively volatile as more news is reported.

Also rising today are shares in recruitment company Kellan Group (LSE: KLN). They are up by 27% after the release of the company’s full-year results which showed that it is making progress in its restructuring efforts. For example, revenue increased by 8.3% in 2015, with the company’s bottom line moving from a loss of £0.06m in 2014 to a profit of £0.43m in 2015. This was aided by a reduction in administrative expenses, which fell by 11.1% year-on-year.

Looking ahead, the company’s investment in its infrastructure could aid further profit growth over the medium to long term. In particular, new IT systems should improve efficiencies and could have a positive impact on sales. With Kellan trading on a price to earnings (P/E) ratio of 11.8, it appears to offer good value for money and therefore may be of interest to less risk averse investors.

Meanwhile, shares in Carpetright (LSE: CRP) are up by around 7% today despite no significant news having been released by the company. Despite this rise, its shares are still down by 29% since the turn of the year, but over the medium term they could easily recover lost ground.

A key reason for this is the company’s upbeat earnings forecasts. In the current financial year, Carpetright is expected to increase its bottom line by 23%, with further growth of 30% next year and 23% in the following year being pencilled in. This means that its net profit could be as much as 97% higher within the space of three years, which has the potential to act as a positive catalyst on its share price.

And while there are uncertainties surrounding the performance of the UK and European economies, Carpetright’s price to earnings growth (PEG) ratio of 0.5 indicates that there is a sufficiently wide margin of safety on offer to merit purchase right now.

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Peter Stephens has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.