TD Cowen analyst Vivien Azer maintained a Hold rating on Canopy Growth (CGC – Research Report) on August 10 and set a price target of C$0.70. The company’s shares closed last Friday at $0.40.
According to TipRanks, Azer is a 5-star analyst with an average return of 11.7% and a 57.09% success rate. Azer covers the Consumer Defensive sector, focusing on stocks such as Boston Beer, Constellation Brands, and Keurig Dr Pepper.
In addition to TD Cowen, Canopy Growth also received a Hold from Alliance Global Partners’s Aaron Grey in a report issued on August 3. However, on August 10, Piper Sandler maintained a Sell rating on Canopy Growth (NASDAQ: CGC).
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CGC market cap is currently $282.8M and has a P/E ratio of -0.22.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CGC in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Canopy Growth Corp. engages in the production and sale of medical cannabis. The company offers products including oils and concentrates, soft gel capsules and hemp. It focuses on the treatment of chronic pain, seizures, muscle spasms, nausea, and loss of appetite. The company was founded by Bruce Linton on August 5, 2009 and is headquartered in Smith Falls, Canada.
Read More on CGC:
- Rising High: Exclusive talk with cannabis market research firm BDSA
- Canopy Growth Reports First Quarter Fiscal Year 2024 Financial Results
- Canopy Growth reports Q1 EPS (C$0.07) vs. (C$5.24) last year
- Canopy Growth options imply 19.5% move in share price post-earnings
- Canopy Growth (CGC) Q1 Earnings Cheat Sheet
