Aurora Cannabis (ACB) Receives a Hold from Needham


In a report released today, Matt McGinley from Needham assigned a Hold rating to Aurora Cannabis (ACB). The company’s shares closed last Friday at $6.98, close to its 52-week low of $5.30.

According to TipRanks.com, McGinley is a 5-star analyst with an average return of 38.9% and a 73.1% success rate. McGinley covers the Basic Materials sector, focusing on stocks such as Green Thumb Industries, Curaleaf Holdings, and Trulieve Cannabis.

Currently, the analyst consensus on Aurora Cannabis is a Hold with an average price target of $12.76, representing a 71.5% upside. In a report issued on September 8, Ladenburg Thalmann & Co. also downgraded the stock to Hold.

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Based on Aurora Cannabis’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $75.52 million and GAAP net loss of $137 million. In comparison, last year the company earned revenue of $65.15 million and had a GAAP net loss of $158 million.

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Aurora Cannabis, Inc. engages in the production, distribution and sale of cannabis products. It also produces and sells indoor cultivation systems and hemp related food products. The company was founded by Terry Booth and Steve Dobler on December 21, 2006 and is headquartered in Edmonton, Canada.

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