Raymond James Keeps Their Hold Rating on OrganiGram Holdings (OGI)

In a report issued on July 21, Rahul Sarugaser from Raymond James maintained a Hold rating on OrganiGram Holdings (OGI), with a price target of C$5.00. The company’s shares closed last Wednesday at $1.37, close to its 52-week low of $1.09.

According to TipRanks.com, Sarugaser is a 3-star analyst with an average return of 8.0% and a 44.2% success rate. Sarugaser covers the Industrial Goods sector, focusing on stocks such as Village Farms International, Auxly Cannabis Group, and Cronos Group.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for OrganiGram Holdings with a $2.48 average price target, implying a 78.4% upside from current levels. In a report issued on July 21, Oppenheimer also assigned a Hold rating to the stock.

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Based on OrganiGram Holdings’ latest earnings release for the quarter ending February 29, the company reported a quarterly revenue of $23.22 million and GAAP net loss of $6.83 million. In comparison, last year the company earned revenue of $24.75 million and had a GAAP net loss of $10.18 million.

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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.

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