Organigram (TSE:OGI) PT Lowered to C$3.25 at Canaccord Genuity Group

Organigram (TSE:OGI - Get Free Report) had its price objective reduced by analysts at Canaccord Genuity Group from C$3.75 to C$3.25 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage currently has a "speculative buy" rating on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 24.52% from the company's previous close.

A number of other research firms have also weighed in on OGI. Alliance Global Partners raised their price objective on shares of Organigram from C$2.00 to C$2.70 and gave the company a "neutral" rating in a research note on Wednesday, February 14th. ATB Capital set a C$5.25 price target on shares of Organigram and gave the stock an "outperform" rating in a research note on Wednesday, April 3rd. Finally, Jefferies Financial Group reduced their price target on shares of Organigram from C$4.95 to C$4.40 and set a "buy" rating for the company in a research note on Tuesday, February 27th.

Organigram Trading Up 5.2 %

TSE OGI traded up C$0.13 during trading on Wednesday, hitting C$2.61. The company had a trading volume of 629,705 shares, compared to its average volume of 422,286. The company has a current ratio of 6.95, a quick ratio of 2.62 and a debt-to-equity ratio of 1.75. Organigram has a one year low of C$1.35 and a one year high of C$3.95. The company has a market cap of C$268.83 million, a price-to-earnings ratio of -1.04, a price-to-earnings-growth ratio of 0.42 and a beta of 1.10. The company's fifty day moving average is C$2.78 and its 200-day moving average is C$2.33.

Organigram (TSE:OGI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The company reported C($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.13) by C($0.06). The business had revenue of C$36.46 million during the quarter, compared to the consensus estimate of C$38.13 million. Organigram had a negative return on equity of 54.53% and a negative net margin of 153.80%. On average, sell-side analysts predict that Organigram will post 0.08032 earnings per share for the current year.

Insider Transactions at Organigram

In other news, Director Donald Geoffrey Machum sold 23,000 shares of the business's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of C$2.74, for a total value of C$62,964.80. Insiders own 27.32% of the company's stock.

About Organigram

Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O' Buds, Monjour, Trailblazer, SHRED'ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.