Oppenheimer Releases a Hold Rating on OrganiGram Holdings (OGI)
In a report released today, Rupesh Parikh from Oppenheimer assigned a Hold rating to OrganiGram Holdings (OGI). The company’s shares closed last Tuesday at $2.73.
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 14.6% and a 67.0% success rate. Parikh covers the Consumer Goods sector, focusing on stocks such as Bj’s Wholesale Club Holdings, The Estée Lauder Companies, and Albertsons Companies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for OrganiGram Holdings with a $3.75 average price target, a 51.8% upside from current levels. In a report issued on April 7, BMO Capital also upgraded the stock to Hold with a C$4.00 price target.
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Based on OrganiGram Holdings’ latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $19.33 million and GAAP net loss of $34.34 million. In comparison, last year the company earned revenue of $25.15 million and had a GAAP net loss of $863K.
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OrganiGram Holdings, Inc. engages in the production and sale of medical marijuana. Its products include strains, cannabis oils, and vaporizrs. The company was founded on July 5, 2010 and is headquartered in Moncton, Canada.