In a report released yesterday, Owen Bennett from Jefferies maintained a Hold rating on Canopy Growth (CGC – Research Report), with a price target of C$7.28. The company’s shares closed yesterday at $3.47.
According to TipRanks, Bennett is an analyst with an average return of -10.7% and a 33.18% success rate. Bennett covers the Healthcare sector, focusing on stocks such as Aurora Cannabis, OrganiGram Holdings, and Cronos Group.
Canopy Growth has an analyst consensus of Moderate Sell, with a price target consensus of $4.15.
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Based on Canopy Growth’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $69.6 million and a GAAP net loss of $310.01 million. In comparison, last year the company earned a revenue of $87.94 million and had a GAAP net loss of $204.23 million
Based on the recent corporate insider activity of 25 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 (CGC) Company Description:
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:
- Here’s What You Missed in Cannabis, Psychedelics This Week
- Canopy Growth launches five new pre-roll products from 7ACRES and Hiway
- Rising High: Exclusive talk with cannabis market research firm BDSA
- Canopy Growth price target lowered to C$4 from C$7 at BofA
- “More Consolidation Ahead,” Says Canopy Growth (TSE:WEED)
