This week, marijuana enthusiasts likely celebrated 4/20 in predictable fashion. Although most serious investors avoid the majority of marijuana stocks like the plague, GW Pharmaceuticals (GWPH), OrganiGram Holdings (OGRMF) and Canopy Growth Corp (TWMJF) all actually have institutional investors.

Until weed gains federal legalization in the U.S., most marijuana stocks will continue to be shunned by American investors. However, according to Morningstar, these three stocks have caught the eye of some high-profile names.

GW Pharmaceuticals (GWPH)

For any investor even remotely familiar with the marijuana market, GWPH is likely the least surprising weed-related stock to have institutional backing. GWPH does not grow and sell marijuana or marijuana paraphernalia. GWPH is a biotech company that is working on the development of cannabinoid prescription drugs.

In fact, GWPH is currently the only stock directly related to marijuana that trades on a major U.S. stock exchange.

The vast majority of marijuana stocks suffered massive declines in share price in the past year. But GWPH’s stock more than doubled in a single day back in March when the company reported positive Phase III drug data.

Given the legitimacy of GWPH’s business and the promising results it has gotten from its trials, it’s not surprising that the company has a number of prominent institutional investors. Its shareholders include Capital Research Global Ivestors (2.6 million shares held), M&G Investment Management (1.1 million shares held) and Fidelity SelectCo (1.5 million shares held).

OrganiGram Holdings (OGRMF)

OGRMF may not be listed on a major U.S. exchange, but the Canadian company’s stock does…

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