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.

Analyst Ratings Changes

Several research analysts recently issued reports on WEED shares. MKM Partners reaffirmed a "buy" rating and set a C$13.00 target price on shares of Canopy Growth in a research report on Wednesday, June 29th. Cfra reiterated a "hold" rating and set a C$10.00 price target on shares of Canopy Growth in a report on Friday, May 27th. Cowen dropped their price target on Canopy Growth to C$3.40 and set a "hold" rating on the stock in a report on Tuesday, July 19th. Canaccord Genuity Group dropped their price target on Canopy Growth from C$10.00 to C$6.00 in a report on Tuesday, May 24th. Finally, Stifel Nicolaus dropped their price target on Canopy Growth from C$7.50 to C$6.00 in a report on Monday, May 2nd. Seven investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Canopy Growth presently has a consensus rating of "Hold" and an average price target of C$8.23.

Canopy Growth Price Performance

Shares of WEED traded up C$0.49 during midday trading on Wednesday, reaching C$4.19. The stock had a trading volume of 3,010,678 shares, compared to its average volume of 2,633,767. The company's 50-day moving average is C$3.97 and its 200 day moving average is C$6.94. Canopy Growth has a 12-month low of C$2.79 and a 12-month high of C$24.32. 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 company has a market capitalization of C$2.01 billion and a price-to-earnings ratio of -5.43.