Canopy Growth (TSE:WEED) Price Target Cut to C$2.50 by Analysts at Sanford C. Bernstein

Canopy Growth (TSE:WEED) had its target price cut by Sanford C. Bernstein from C$5.30 to C$2.50 in a note issued to investors on Wednesday,BayStreet.CA reports. Sanford C. Bernstein’s price objective would suggest a potential upside of 47.06% from the company’s previous close.

WEED has been the topic of several other reports. ATB Capital lowered their price objective on shares of Canopy Growth from C$1.60 to C$1.40 and set an “underperform” rating on the stock in a research note on Thursday, December 11th. Benchmark upgraded Canopy Growth from a “sell” rating to a “hold” rating in a report on Monday, November 10th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Sell” and an average price target of C$1.80.

Canopy Growth Stock Down 1.7%

Shares of Canopy Growth stock traded down C$0.03 on Wednesday, reaching C$1.70. 2,060,125 shares of the company were exchanged, compared to its average volume of 3,346,687. The company has a market capitalization of C$642.37 million, a price-to-earnings ratio of -0.64, a PEG ratio of -0.01 and a beta of 2.12. The company has a current ratio of 1.39, a quick ratio of 2.32 and a debt-to-equity ratio of 120.38. Canopy Growth has a one year low of C$1.09 and a one year high of C$4.15. The company has a 50-day moving average of C$1.73 and a 200 day moving average of C$1.79.

Canopy Growth (TSE:WEED) last released its earnings results on Friday, November 7th. The company reported C($0.01) earnings per share for the quarter. Canopy Growth had a negative net margin of 201.27% and a negative return on equity of 108.18%. The firm had revenue of C$66.68 million during the quarter. On average, equities research analysts forecast 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.