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 yesterday at $0.47.
Lavery covers the Consumer Defensive sector, focusing on stocks such as Kellogg, Celsius Holdings, and B&G Foods. According to TipRanks, Lavery has an average return of 4.6% and a 49.83% success rate on recommended stocks.
Currently, the analyst consensus on Canopy Growth is a Moderate Sell with an average price target of $0.59.
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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 26.37M.
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.
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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 First Quarter Fiscal Year 2024 Financial Results
- Canopy Growth (CGC) Q1 Earnings Cheat Sheet
- Here’s What You Missed in Cannabis This Week
- Canopy Growth price target lowered to C$0.60 from C$3.50 at Alliance Global
- Rising High: Exclusive talk with biotech company Tryp Therapeutics
