Canopy Growth (TSE:WEED) PT Set at C$2.00 by Canaccord Genuity Group

Canopy Growth (TSE:WEED) has been given a C$2.00 target price by stock analysts at Canaccord Genuity Group in a report released on Friday,BayStreet.CA reports. The brokerage presently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 62.60% from the stock’s previous close.

WEED has been the subject of a number of other research reports. ATB Cormark Capital Markets raised shares of Canopy Growth from a “sector perform” rating to an “outperform” rating and set a C$1.40 target price for the company in a research note on Tuesday, March 17th. Sanford C. Bernstein cut their price target on shares of Canopy Growth from C$5.30 to C$2.50 in a research report on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$1.97.

Canopy Growth Stock Performance

TSE:WEED opened at C$1.23 on Friday. The company has a debt-to-equity ratio of 35.93, a quick ratio of 2.32 and a current ratio of 5.34. Canopy Growth has a fifty-two week low of C$1.09 and a fifty-two week high of C$3.28. The company has a 50 day simple moving average of C$1.49 and a two-hundred day simple moving average of C$1.70. The company has a market capitalization of C$520.07 million, a PE ratio of -0.66, a P/E/G ratio of -0.01 and a beta of 1.55.

Canopy Growth (TSE:WEED) last issued its quarterly earnings results on Friday, February 6th. The company reported C($0.18) earnings per share (EPS) for the quarter. Canopy Growth had a negative return on equity of 52.88% and a negative net margin of 117.31%.The firm had revenue of C$74.54 million during the quarter. Research analysts anticipate that Canopy Growth will post -0.69 earnings per share for the current year.

About Canopy Growth

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands.