Piper Sandler analyst Michael Lavery maintained a Sell rating on Canopy Growth (CGC – Research Report) today and set a price target of $0.50. The company’s shares closed last Friday at $1.35.
According to TipRanks, Lavery is a 4-star analyst with an average return of 5.0% and a 51.70% success rate. Lavery covers the Consumer Defensive sector, focusing on stocks such as Campbell Soup, General Mills, and Kellogg.
In addition to Piper Sandler, Canopy Growth also received a Sell from Bank of America Securities’s Lisa Lewandowski in a report issued on September 15. However, on September 14, TD Cowen maintained a Hold rating on Canopy Growth (NASDAQ: CGC).
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The company has a one-year high of $4.77 and a one-year low of $0.35. Currently, Canopy Growth has an average volume of 50.35M.
Based on the recent corporate insider activity of 50 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.
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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.
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