Bernstein analyst Nadine Sarwat maintained a Hold rating on Canopy Growth (CGC – Research Report) today and set a price target of $1.55. The company’s shares opened today at $0.56.
According to TipRanks, Sarwat is a 3-star analyst with an average return of 13.1% and an 80.00% success rate. Sarwat covers the Consumer Defensive sector, focusing on stocks such as Constellation Brands, Molson Coors, and Ambev SA.
Currently, the analyst consensus on Canopy Growth is a Moderate Sell with an average price target of $0.87.
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Based on Canopy Growth’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $101.21 million and a GAAP net loss of $261.58 million. In comparison, last year the company earned a revenue of $140.97 million and had a GAAP net loss of $108.93 million
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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.
Read More on CGC:
- Canopy Growth Reports Fourth Quarter and Fiscal Year 2023 Financial Results
- Rising High: Exclusive talk with pharmaceutical company Artelo Biosciences
- Canopy Growth (TSE:WEED) Reveals 7 New Cannabis Products
- Acreage announce additional changes to its leadership, oversight
- Rising High: Exclusive talk with cannabis market research firm BDSA
