OrganiGram (TSE:OGI) Raised to Outperform at ATB Capital

OrganiGram (TSE:OGIGet Rating) was upgraded by research analysts at ATB Capital from a “sector perform” rating to an “outperform” rating in a research note issued on Wednesday, Marketbeat.com reports. The brokerage currently has a C$3.00 price target on the stock. ATB Capital’s price target points to a potential upside of 36.99% from the stock’s previous close.

A number of other analysts have also recently weighed in on OGI. Alliance Global Partners cut their price objective on shares of OrganiGram from C$4.00 to C$2.25 and set an “underperform” rating on the stock in a report on Friday, January 7th. Raymond James cut their target price on shares of OrganiGram from C$5.00 to C$3.00 and set an “outperform” rating on the stock in a report on Tuesday, March 15th. Finally, Canaccord Genuity Group raised shares of OrganiGram from a “hold” rating to a “speculative buy” rating and lifted their target price for the company from C$3.00 to C$3.25 in a report on Wednesday, January 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$3.05.

OGI stock opened at C$2.19 on Wednesday. The company has a current ratio of 8.40, a quick ratio of 6.60 and a debt-to-equity ratio of 1.67. OrganiGram has a twelve month low of C$1.65 and a twelve month high of C$4.26. The company’s 50 day moving average is C$1.96 and its two-hundred day moving average is C$2.32. The stock has a market cap of C$686.98 million and a P/E ratio of -6.29.

OrganiGram (TSE:OGIGet Rating) last released its quarterly earnings data on Tuesday, April 12th. The company reported C($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of C($0.03). The company had revenue of C$31.84 million for the quarter, compared to analyst estimates of C$30.58 million. On average, equities research analysts predict that OrganiGram will post -0.05 earnings per share for the current year.

About OrganiGram (Get Rating)

Organigram Holdings Inc, through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including cannabis flowers, cannabis oils, and vaporizers for civilian patients and veterans; adult use recreational cannabis under the Edison Cannabis Co, Trail Blazer, SHRED, SHRED'ems, Big Bag O' Buds, and Monjour brands; and cannabis edibles products and concentrates.

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Analyst Recommendations for OrganiGram (TSE:OGI)

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