Numinus Wellness: Eight Capital Initiates With $1.10 Price Target

Last week, Eight Capital launched coverage on a basket of psychedelic companies. This comes after they produced an industry primer during the summer months. The fourth company initiated on this note is Numinus Wellness Inc. (TSXV: NUMI), with a C$1.10 12-month price target and buy rating while referring to the firm as “a diversified operator.”

They call Numinus the clear leader among the diversified players in the space as it has a number of different operations.

Eight Capital expects Numinus Wellness to do multiple accretive acquisitions to bolster its leading position. They expect Numinus to do acquisitions for new clinics into new jurisdictions, to which they will “bolt on” higher-margin psychotherapy services.

They also expect that Numinus will leverage its position as a supplier of naturally derived psilocybin and its extraction/purification expertise to develop capsules for human use in clinical trials. This potentially means they will have replacements to alternate forms for the supply of psilocybin.

Eight Capital also believes that Numinus is the perfect commercialization partner for other companies, saying, “we believe Numinus’ differentiated capabilities in developing, testing, and administering psychedelics in a clinical setting render it well-positioned to serve as a commercialization partner that could see its psychedelic-assisted therapy regiment differentiated from the offerings of other PAP clinics.”

Below you can see Eight Capital’s catalysts they are watching.


Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Altamira Gold Encounters Porphyritic Intrusive Rocks In Initial Scout Drilling At Regional Targets

Related News

K92 Mining: BMO Reiterates Ratings After 2022 Guidance Release

On January 24th, K92 Mining Inc. (TSX: KNT) announced their 2022 operational guidance, wherein the...

Sunday, January 30, 2022, 01:12:00 PM

Beyond Meat Sees Analysts Slash Price Targets

Beyond Meat, Inc. (Nasdaq: BYND) recently reported its third quarter results for the period ending...

Sunday, November 20, 2022, 11:12:00 AM

Aurora Cannabis: Consensus Price Target Tumbles Following Q3 Results

Aurora Cannabis (TSX: ACB) (NYSE: ACB) reported earnings for their fiscal third-quarter earnings on May...

Sunday, May 16, 2021, 10:16:00 AM

Vireo Health: Canaccord Lowers Revenue Estimates, Reiterates Price Target

Vireo Health (CSE: VREO) reported its second-quarter financials’ on August 26th, indicating revenue for the...

Thursday, August 27, 2020, 05:30:27 PM

Cresco Labs: Analysts Raise Targets Following Blowout Quarter

On November 18th, Cresco Labs (CSE: CL) reported their third quarter financial results. The company...

Friday, November 20, 2020, 12:09:00 PM