Organigram (TSE:OGI) PT Set at C$3.00 by Canaccord Genuity Group

Organigram (TSE:OGI) has been given a C$3.00 price objective by investment analysts at Canaccord Genuity Group in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 35.14% from the stock’s previous close.

Organigram Stock Up 1.4%

TSE:OGI traded up C$0.03 on Tuesday, reaching C$2.22. 80,086 shares of the stock traded hands, compared to its average volume of 224,150. The company has a market capitalization of C$298.50 million, a price-to-earnings ratio of -11.44, a PEG ratio of 0.42 and a beta of 2.11. The company’s fifty day simple moving average is C$2.33 and its 200 day simple moving average is C$2.30. Organigram has a 12 month low of C$1.22 and a 12 month high of C$3.09. The company has a current ratio of 3.36, a quick ratio of 2.62 and a debt-to-equity ratio of 3.07.

Insider Activity at Organigram

In other news, insider Beena Goldenberg sold 20,058 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of C$2.25, for a total transaction of C$45,130.50. Following the completion of the transaction, the insider directly owned 126,132 shares of the company’s stock, valued at C$283,797. The trade was a 13.72% decrease in their ownership of the stock. Insiders have sold 70,163 shares of company stock valued at $157,867 in the last three months. Insiders own 31.32% of the company’s stock.

About Organigram

Organigram Inc is a Canadian licensed producer of cannabis products. Organigram focuses on producing exceptional, indoor-grown cannabis for patients and adult recreational consumers, as well as developing global business partnerships.