Tilray (NASDAQ:TLRY) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Zacks.com reports. The brokerage currently has a $8.50 price objective on the stock. Zacks Investment Research's price objective would indicate a potential upside of 15.18% from the company's current price.
According to Zacks, "Tilray, Inc. is a pharmaceutical company. It develops cannabis based medicines, drugs, drops and oil products. Tilray, Inc. is based in NANAIMO, Canada. "
A number of other research firms also recently commented on TLRY. Benchmark reduced their target price on Tilray from $28.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, May 12th. Stifel Nicolaus increased their price objective on Tilray from $5.50 to $6.50 and gave the company a "hold" rating in a report on Tuesday, May 12th. Northland Securities restated a "hold" rating on shares of Tilray in a research note on Tuesday, May 12th. Cantor Fitzgerald increased their price target on shares of Tilray from $4.90 to $7.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Finally, Alliance Global Partners lowered their price objective on shares of Tilray from $15.00 to $9.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 12th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company's stock. The stock currently has a consensus rating of "Hold" and an average target price of $12.42.
NASDAQ TLRY opened at $7.38 on Friday. The firm's fifty day simple moving average is $7.76 and its two-hundred day simple moving average is $10.36. Tilray has a 12-month low of $2.43 and a 12-month high of $46.25. The firm has a market capitalization of $940.20 million, a P/E ratio of -1.61 and a beta of 3.25. The company has a current ratio of 1.98, a quick ratio of 1.42 and a debt-to-equity ratio of 2.63.
Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Monday, May 11th. The company reported ($1.73) EPS for the quarter, missing the consensus estimate of ($0.44) by ($1.29). Tilray had a negative net margin of 241.79% and a negative return on equity of 62.82%. The business had revenue of $52.20 million during the quarter, compared to analysts' expectations of $49.37 million. During the same period last year, the company earned ($0.27) earnings per share. The firm's revenue was up 127.0% on a year-over-year basis. As a group, sell-side analysts predict that Tilray will post -0.9 earnings per share for the current fiscal year.
In other Tilray news, CEO Brendan Kennedy sold 350,000 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $8.20, for a total value of $2,870,000.00. Following the sale, the chief executive officer now owns 4,515,127 shares in the company, valued at $37,024,041.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 700,000 shares of company stock worth $5,605,833. Corporate insiders own 16.75% of the company's stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sunbelt Securities Inc. bought a new stake in shares of Tilray during the 4th quarter worth $3,447,000. Exane Derivatives increased its holdings in shares of Tilray by 17.1% in the 2nd quarter. Exane Derivatives now owns 13,071 shares of the company's stock valued at $93,000 after purchasing an additional 1,911 shares during the period. Verus Capital Partners LLC bought a new stake in shares of Tilray in the 4th quarter valued at approximately $35,000. Swiss National Bank raised its holdings in shares of Tilray by 4.9% during the 1st quarter. Swiss National Bank now owns 48,800 shares of the company's stock valued at $336,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Credit Suisse AG boosted its position in Tilray by 22.6% during the fourth quarter. Credit Suisse AG now owns 16,384 shares of the company's stock worth $281,000 after purchasing an additional 3,016 shares during the period. 7.95% of the stock is owned by institutional investors.
Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Nanaimo, Canada.
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