OrganiGram (TSE:OGI) Upgraded by Royal Bank of Canada to “Neutral”

OrganiGram (TSE:OGI) was upgraded by stock analysts at Royal Bank of Canada to a “neutral” rating in a report issued on Tuesday, Stock Target Advisor reports.

Several other research firms have also weighed in on OGI. Canaccord Genuity upped their price objective on OrganiGram from C$2.00 to C$3.50 and gave the company an “underperform” rating in a research note on Wednesday, April 14th. Haywood Securities lowered their price objective on OrganiGram from C$4.75 to C$3.50 and set an “underperform” rating on the stock in a research note on Wednesday, April 14th. Raymond James reiterated an “outperform” rating and issued a C$5.00 price objective on shares of OrganiGram in a research note on Tuesday, May 4th. Eight Capital upped their price objective on OrganiGram from C$2.40 to C$3.85 and gave the company a “na” rating in a research note on Friday, March 12th. Finally, Alliance Global Partners decreased their price target on OrganiGram from C$4.00 to C$3.75 and set an “underpeform” rating on the stock in a research report on Thursday, April 15th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of C$3.78.

Shares of TSE:OGI opened at C$3.06 on Tuesday. OrganiGram has a fifty-two week low of C$1.35 and a fifty-two week high of C$8.00. The business has a 50-day moving average of C$3.64 and a two-hundred day moving average of C$2.91. The stock has a market capitalization of C$912.59 million and a P/E ratio of -2.68. The company has a debt-to-equity ratio of 23.71, a current ratio of 6.66 and a quick ratio of 4.11.

OrganiGram (TSE:OGI) last issued its quarterly earnings results on Tuesday, April 13th. The company reported C($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.04) by C($0.09). The company had revenue of C$14.64 million during the quarter, compared to analysts’ expectations of C$19.79 million. As a group, research analysts expect that OrganiGram will post -0.08 EPS for the current fiscal year.

About OrganiGram

Organigram Holdings Inc, through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers cannabis flowers, extracts, edibles and oils, beverages, and other cannabis products for adult recreational market under the Edison Reserve, Edison Cannabis Co, ANKR Organics, and Trailblazer brands; and medical cannabis products, including strains, cannabis oils, extracts, edibles, beverages, and vaporizers for the medical market.

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Analyst Recommendations for OrganiGram (TSE:OGI)

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