Sanford C. Bernstein Cuts Canopy Growth (TSE:WEED) Price Target to C$2.50

Canopy Growth (TSE:WEED) had its price target cut by Sanford C. Bernstein from C$5.30 to C$2.50 in a report published on Wednesday morning,BayStreet.CA reports.

WEED has been the subject of several other research reports. ATB Capital cut their target price on Canopy Growth from C$1.60 to C$1.40 and set an “underperform” rating for the company in a research note on Thursday, December 11th. Benchmark raised shares of 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. According to MarketBeat, the company currently has a consensus rating of “Sell” and a consensus target price of C$1.80.

Canopy Growth Stock Down 2.9%

WEED opened at C$1.65 on Wednesday. Canopy Growth has a 12 month low of C$1.09 and a 12 month high of C$4.15. The company has a market cap of C$623.47 million, a PE ratio of -0.62, a price-to-earnings-growth 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. 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 posted its earnings results on Friday, November 7th. The company reported C($0.01) earnings per share (EPS) for the quarter. Canopy Growth had a negative return on equity of 108.18% and a negative net margin of 201.27%.The company had revenue of C$66.68 million for the quarter. On average, sell-side analysts expect that Canopy Growth will post -0.69 EPS 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.