Canaccord Genuity analyst Matt Bottomley maintained a Hold rating on Canopy Growth (CGC) yesterday and set a price target of C$22.00. The company’s shares closed last Monday at $17.93.
According to TipRanks.com, Bottomley is a 4-star analyst with an average return of 8.2% and a 50.3% success rate. Bottomley covers the Industrial Goods sector, focusing on stocks such as The Supreme Cannabis Company, Harvest Health & Recreation, and Vireo Health International.
The word on The Street in general, suggests a Hold analyst consensus rating for Canopy Growth with a $18.23 average price target, representing a -0.3% downside. In a report released yesterday, MKM Partners also maintained a Hold rating on the stock with a C$19.00 price target.
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The company has a one-year high of $34.34 and a one-year low of $9.00. Currently, Canopy Growth has an average volume of 6.23M.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CGC in relation to earlier this year.
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Canopy Growth Corp. engages in the production and sale of medical cannabis. The company offers products including oils and concentrates, soft gel capsules and hemp. It focuses on the treatment of chronic pain, seizures, muscle spasms, nausea, and loss of appetite. The company was founded by Bruce Linton on August 5, 2009 and is headquartered in Smith Falls, Canada.
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