BMO Capital analyst Tamy Chen maintained a Hold rating on MediPharm Labs (MEDIF) yesterday and set a price target of $0.60. The company’s shares closed last Thursday at $0.37, close to its 52-week low of $0.35.
According to TipRanks.com, Chen is a 1-star analyst with an average return of -5.1% and a 47.8% success rate. Chen covers the Basic Materials sector, focusing on stocks such as The Green Organic Dutchman Holdings, The Supreme Cannabis Company, and OrganiGram Holdings.
The word on The Street in general, suggests a Hold analyst consensus rating for MediPharm Labs with a $0.60 average price target.
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The company has a one-year high of $1.53 and a one-year low of $0.35. Currently, MediPharm Labs has an average volume of 1.04M.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MEDIF in relation to earlier this year.
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MediPharm Labs Corp has the distinction of being the first company in Canada to become a licensed producer for cannabis oil production under the Access to Cannabis for Medical Purposes Regulation without first receiving a cannabis cultivation license. The focus on cannabis concentrates from current Good Manufacturing Practices and ISO standard clean rooms and critical environments laboratory, allows MediPharm Labs to produce purified, pharmaceutical-grade cannabis oil and concentrates for derivative products. The company has invested in research-driven team, technology, downstream extraction methodologies and purpose-built facilities to deliver safe and precisely-dosed cannabis products to patients and consumers.
