Northland Securities analyst Michael Grondahl maintained a Buy rating on CV Sciences Inc (CVSI) yesterday and set a price target of $8. The company’s shares closed yesterday at $4.99.
Grondahl observed:
“We note inventory was $7.1M at YE 2018, up from $3.6M at June 30, 2018. The toxicology report and GRAS certifications are key and a huge advantage for CVSI. A recent Coast was an opportunity for CVSI to highlight a couple new products and we believe a few new topicals/balms are also coming this Spring as this is a category national retailers will probably start with as they begin selling CBD products. Management believed a framework from the FDA would be positive and national retailers are expected to move ahead of this framework. CVSI will look to work with partners, associations and pharmaceuticals to advance the CBD industry.”
According to TipRanks.com, Grondahl is a top 100 analyst with an average return of 30.9% and a 68.8% success rate. Grondahl covers the Financial sector, focusing on stocks such as Front Yard Residential Corporation, Altisource Portfolio Solutions SA, and Health Insurance Innovations.
CV Sciences Inc has an analyst consensus of Moderate Buy, with a price target consensus of $8.
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CV Sciences Inc’s market cap is currently $470.8M and has a P/E ratio of 63.65. The company has a Price to Book ratio of 18.28.
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CV Sciences, Inc. engages in the provision of consumer and pharmaceutical products. It offers nutraceutical, beauty care, specialty foods, vape, and other. It operates through the Consumer Products, and Specialty Pharmaceutical segments.
