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Tag: CGC

  • Canopy Growth Corporation (CGC) Surges in After-Hours, Riding Industry Momentum

    Canopy Growth Corporation (NASDAQ: CGC) capped off a triumphant Friday, witnessing a remarkable 11.20% surge during regular trading hours. The momentum didn’t wane with the closing bell, as the stock experienced an astonishing 16% climb in after-hours trading.

    Industry Momentum

    The surge in Canopy Growth’s after-hours activity mirrors a broader upswing in the cannabis sector. A wave of optimism swept through cannabis stocks following speculation from a notable hedge fund manager regarding potential regulatory shifts.

    This surge was underlined by AdvisorShares Pure US Cannabis, an ETF tracking cannabis stocks, witnessing a notable 9% uptick. Individual players like Curaleaf and Green Thumb Industries also enjoyed substantial gains.

    Dougie Kass of Seabreeze Capital Partners LP stirred the pot further with his suggestion on social media platform X that the Drug Enforcement Administration might be on the cusp of reclassifying marijuana, a notion that resonated well with investors.

    Secretary Xavier Becerra’s recent defense of the FDA’s cannabis scheduling review in front of a U.S. Senate committee only added fuel to the fire.

    Additionally, amidst whispers of downsizing in other sectors such as AI, investors seem to be turning to the cannabis industry for potentially lucrative short-term investments, contributing to the heightened activity in cannabis stocks.

    Company Dynamics

    Canopy Growth, a prominent North American cannabis and consumer packaged goods entity, has been strategically expanding its footprint. A recent milestone included the introduction of medical cannabis pastilles in Australia, marking a strategic move towards global market penetration and product diversification.

    Furthermore, the company’s recent announcement regarding the establishment of Canopy USA, LLC, signifies a bold step towards accelerating its entry into the burgeoning U.S. cannabis market. This strategic maneuver aims to harness the immense growth potential of the U.S. cannabis landscape, positioning the company for sustained profitability and market dominance.

    Conclusion

    In conclusion, Canopy Growth’s impressive performance in after-hours trading reflects not only its individual strength but also mirrors the broader optimism pervading the cannabis industry. As regulatory winds potentially shift and strategic initiatives unfold, investors are keenly observing for further opportunities and developments in this dynamic sector.

  • Three Top Cannabis Stocks to Watch For in 2021

    Three Top Cannabis Stocks to Watch For in 2021

    The cannabis industry is growing more than ever before.

    The cannabis market picked hype back in the last year when the state legislation in the US was approved. Following that, the win of Joe Biden in the general elections played the role of catalyst in driving cannabis stocks. In the second half of 2020, cannabis stocks were one of the few to gain massively.

    The bottom-line is if as an investor you are willing to go big on cannabis stocks, choose the stocks of well-run companies with strong growth prospects. We will talk about the emerging marijuana and cannabis and the potential upside of stocks in the long run.

    So, let’s have a look at the three top cannabis stocks to watch for this year.

    Cresco Labs (CRLBF)

    Cresco Labs (CRLBF) has shown signs of being a well-positioned growth stock, as the current market for the company continues to grow. Keith Speights from The Motley Wool has been bullish on CRLBF. When he first predicted on the stock, CRLBF shares were up by 20% year-to-date. Now, the stock has soared over 60%, as of last week’s closing.

    Cresco Labs is one of the leading stakeholders of the cannabis wholesaler in California. While it is the top retailer in its home state of Illinois and is currently operating in eight other states. With a market cap of $3.35 billion, Cresco is there—at the top—to go big with the rising cannabis market.

    The company is working to expand its network into new markets. Recently, the company announced the closing of its acquisition of Verdant Creations dispensaries in Cincinnati, Chillicothe, Newark, and Marion, Ohio. These acquisitions would add four additional dispensaries to Cresco’s network. So, Cresco Labs (CRLBF) is one to watch this year.

    Innovative Industrial Properties (IIPR)

    Innovative Industrial Properties (IIPR) is the first and only real estate company listed on the NYSE that focuses on the cannabis market. The company has felt the need to be part of this new emerging market and pave way for the long-term growth.

    IIRP buys properties from U.S. medical cannabis operators and then leases the properties back to them. This helps the company with much-needed cash, which gives IIPR a steady revenue stream.

    Despite the unprecedented economic circumstances, the company was able to deliver phenomenal growth during the pandemic. Recently, the company released its full-year 2020 results which were quite promising. IIRP’s Acquisitions and Portfolio performance drive growth of 162% in aggregated revenues, 191% in net income, and 180% in adjusted funds from operations.

    The total revenues were reported around $116.9 million and the declared dividends to common stockholders totaling $4.47 per share, a 58% increase over 2019. IIPR as a whole looks solid, so it is definitely a cannabis stock to watch for.

    Canopy Growth (CGC)

    A prominent cannabis company that holds much potential in the long-term. Canopy Growth (CGC) has a great start to 2021 and the shares have skyrocketed. However, recently cannabis firm has been on the downward radar of analysts.

    Jefferies prognosticator Owen Bennett has downgraded his recommendation on CGC to underperform (sell) from the previous hold. The analyst has lowered the price target to $23.03 that shows a downside of 35% from the current price level.

    Canopy Growth (CGC) is a well-settled cannabis company and the investors need to follow the price of the firm’s share in the coming time. If CGC shares touch around $23 per share, that would be the best opportunity for the investors to buy the stock at a low price.

  • Top 15 Healthcare Stocks You Should Add To Your Bucket

    The global generics drug market continues to grow with the increasing demand for more medication. Drug manufacturers are continuously striving to meet the need for more generic drugs. This industry is an opportunity-rich industry. Efficient and inexpensive drugs are often needed. The drug manufacturing industry has seen a huge transformation over the last two decades.

    This industry-main challenge is to provide the drug at lower prices than branded drugs. Drug manufacturers and Specialty Generic Industry will face more pressure in the coming years to lower the prices of drugs.  The industry is expected to grow significantly over the next decade. Check out the leading companies in drug manufacturers- specialty generic industry to see how these are addressing the needs of their customers:

    Sundial Growers Inc. (NASDAQ: SNDL)

    Sundial Growers Inc. (NASDAQ: SNDL) shares were trading down -6.32% at $0.17 at the time of writing on Wednesday. Sundial Growers Inc. (NASDAQ: SNDL) share price went from a low point around $0.17 to briefly over $4.12 in the past 52 weeks, though shares have since pulled back to $0.17. SNDL market cap has remained high, hitting $32.59M at the time of writing, giving it a price-to-sales ratio of more than 0.

    Sundial Growers Inc. (SNDL) has revealed earlier that it has expanded the Palmetto brand presence across Canada. If we look at the recent analyst rating SNDL, CIBC upgraded coverage on SNDL shares with a Neutral rating.

    Teligent Inc. (NASDAQ: TLGT)

    Teligent Inc. (NASDAQ: TLGT) last closed at $1.04, in a 52-week range of $0.65 to $8.00. The Schall Law Firm has earlier revealed that it is investigating claims on behalf of investors in Teligent, Inc. for potential breaches of fiduciary duty on the part of its directors and management. Teligent Inc.’s market cap has remained high, hitting $5.68 Million at the time of writing.

    Zomedica Corp. (AMEX: ZOM)

    Zomedica Corp. (AMEX: ZOM) stock drop by -3.82% to $0.08. Zomedica Corp. (ZOM) revealed that it has changed its legal name to Zomedica Corp. The Company’s stock trading symbol will remain as ZOM on the NYSE American and the shares will start trading under the new name effective on October 5, 2020.

    Aurora Cannabis Inc. (NYSE: ACB)

    Aurora Cannabis Inc. (NYSE: ACB) shares headed rising, higher as much as 6.36%. The most recent rating by Jefferies, on September 21, 2020, is at a Hold. Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of Aurora Cannabis Inc. (ACB) shareholders.

    Tilray Inc. (NASDAQ: TLRY)

    Tilray Inc. (NASDAQ: TLRY) rose 2.96% after gaining more than $0.19 on Wednesday. Tilray Inc. (TLRY) earlier revealed that its wholly-owned subsidiary, High Park Holdings Ltd. has introduced the newest addition to its cannabis-infused edible product line: Chowie Wowie Gummies, which are now available in select provinces across Canada.

    Neos Therapeutics Inc. (NASDAQ: NEOS)

    Neos Therapeutics Inc. (NASDAQ: NEOS) last closed at $0.86, in a 52-week range of $0.45 to $1.98. Neos Therapeutics Inc. (NEOS) has reported that its sales in quarter two reached $13.13 million. However, earnings dropped by 51.17%, resulting in a loss of $2.88 million. In Q1, Neos Therapeutics brought in $14.49 million in sales but lost $5.89 million in earnings.

    Teva Pharmaceutical Industries Limited (NYSE: TEVA)

    Teva Pharmaceutical Industries Limited (NYSE: TEVA) shares headed rising, higher as much as 3.72%. The most recent rating by Barclays, on August 06, 2020, is at an Equal-weight. Pomerantz LLP revealed that a class action lawsuit has been lodged against Teva Pharmaceuticals Industries Limited and certain of its officers.

    Elanco Animal Health Incorporated (NYSE: ELAN)

    Elanco Animal Health Incorporated (NYSE: ELAN) shares headed falling, lower as much as -2.56%. The most recent rating by Morgan Stanley, on August 20, 2020, is at an Overweight. Elanco Animal Health Incorporated (ELAN) has revealed that it has got a notification of an unsolicited ‘mini-tender”‘ offer by TRC Capital Investment Corporation to buy up to 4,000,000 shares of Elanco common stock, representing approximately 1.00% of the outstanding shares of Elanco common stock.

    HEXO Corp. (NYSE: HEXO)

    HEXO Corp. (NYSE: HEXO) fall -0.91% after losing more than -$0.01 on Wednesday. HEXO Corp. (HEXO) has earlier disclosed that it has appointed Trent MacDonald to its executive leadership team in the acting role of Chief Financial Officer, effective October 10, 2020. Its market cap has remained high, hitting $365.78 million at the time of writing.

    Bausch Health Companies Inc. (NYSE: BHC)

    Bausch Health Companies Inc. (BHC) last closed at $17.57, in a 52-week range of $11.15 to $31.97. Analysts have a consensus price target of $26.76. Bausch Health Companies Inc. (BHC) and Lomb, its leading global eye health business, along with BHVI, revealed previously that an affiliate of Bausch Health has bought an exclusive license for a myopia control contact lens design developed by BHVI.

    Endo International plc (NASDAQ: ENDP)

    Endo International plc (NASDAQ: ENDP) stock drop by -5.69% to $5.47. The most recent rating by Goldman, on July 27, 2020, is at a Sell. Endo International plc (ENDP) revealed that it has decided to buy all of the outstanding shares of BioSpecifics Technologies Corp. for $88.50 in cash per share or an estimated enterprise value of approximately $540 million at the expected time of deal closure.

    China SXT Pharmaceuticals Inc. (NASDAQ: SXTC)

    China SXT Pharmaceuticals Inc. (NASDAQ: SXTC) stock soar by 9.65% to $0.31. China SXT Pharmaceuticals Inc. (SXTC) share has fluctuated between the 52-weeks low of $0.22 and 52-weeks high of $1.56 during the trading session of Wednesday. It has moved up 40.64% from its 52-weeks low and moved down -79.97% from its 52-weeks high.

    Canopy Growth Corporation (NYSE: CGC)

    Canopy Growth Corporation (NYSE: CGC) rose 3.23% after gaining more than $0.61 on Wednesday. Canopy Growth Corporation (CGC) share price went from a low point around $9.00 to briefly over $25.97 in the past 52 weeks, though shares have since pulled back to $19.49. CGC market cap has remained high, hitting $7.24 billion at the time of writing.

    Aphria Inc. (NASDAQ: APHA)

    Aphria Inc. (NASDAQ: APHA) last closed at $4.68, in a 52-week range of $1.95 to $6.44. Aphria Inc. (APHA) has moved up 140.00% from its 52-weeks low and moved down -27.33% from its 52-weeks high. Its market cap has remained high, hitting $1.25 billion at the time of writing.

    China Pharma Holdings Inc. (CPHI)

    China Pharma Holdings Inc. (CPHI) stock soar by 6.86% to $0.50. The most recent rating by Rodman & Renshaw, on January 08, 2010, is at an Mkt outperform. China Pharma Holdings Inc. (CPHI) has moved up 134.13% from its 52-weeks low and moved down -64.53% from its 52-weeks high. Its market cap has remained high, hitting $22.72 million at the time of writing.