Canopy Growth - WEED Stock Forecast, Price & News

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands. Canopy Growth Corporation has a clinical research partnership with NEEKA Health Canada to investigate the efficacy of cannabinoids for the treatment of post-concussion neurological diseases in former NHL players; and partnership with Parent Action on Drugs. The company was formerly known as Tweed Marijuana Inc. and changed its name to Canopy Growth Corporation in September 2015. Canopy Growth Corporation is headquartered in Smiths Falls, Canada.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WEED shares. MKM Partners restated a "buy" rating and set a C$13.00 target price on shares of Canopy Growth in a research note on Wednesday, June 29th. Wedbush cut their price target on Canopy Growth from C$17.00 to C$13.00 and set a "na" rating on the stock in a research report on Wednesday, June 29th. Cowen cut their price target on Canopy Growth from C$6.50 to C$3.40 in a research report on Tuesday, July 19th. Cfra reissued a "hold" rating and issued a C$10.00 target price on shares of Canopy Growth in a report on Friday, May 27th. Finally, Jefferies Financial Group dropped their target price on Canopy Growth from C$8.80 to C$5.50 in a report on Monday, June 13th. Seven research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of C$8.38.

Canopy Growth Trading Down 5.1 %

TSE:WEED traded down C$0.19 on Friday, hitting C$3.50. 2,677,641 shares of the stock were exchanged, compared to its average volume of 2,620,051. The stock has a market cap of C$1.68 billion and a PE ratio of -4.53. The company has a current ratio of 8.16, a quick ratio of 6.94 and a debt-to-equity ratio of 45.18. The stock has a fifty day moving average of C$4.10 and a 200-day moving average of C$7.04. Canopy Growth has a fifty-two week low of C$2.79 and a fifty-two week high of C$24.95.