Piper Sandler analyst Michael Lavery reiterated a Sell rating on Canopy Growth (CGC – Research Report) today and set a price target of $3.00. The company’s shares closed last Friday at $4.02.
Lavery covers the Consumer Defensive sector, focusing on stocks such as Campbell Soup, Post Holdings, and Celsius Holdings. According to TipRanks, Lavery has an average return of 6.8% and a 53.61% success rate on recommended stocks.
Currently, the analyst consensus on Canopy Growth is a Moderate Sell with an average price target of $3.64.
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The company has a one-year high of $25.40 and a one-year low of $3.47. Currently, Canopy Growth has an average volume of 2.98M.
Based on the recent corporate insider activity of 23 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:
- Canopy Growth price target lowered to C$6 from C$10 at Alliance Global Partners
- Canopy Growth Reports Third Quarter Fiscal Year 2024 Financial Results; Achieves Third Quarter of Sequential Revenue Growth across Canada Cannabis Businesses and a Record Quarter for Medical Sales
- Options Volatility and Implied Earnings Moves Today, February 09, 2024
- Canopy Growth expects to achieve positive adjusted EBITDA exiting FY24
- Canopy Growth reports Q3 EPS (C$2.62) vs. (C$5.34) last year
