Thursday, May 29, 2025

Latest

Organigram: Canaccord Reiterates $3.50 Target

On July 13th, Organigram Holdings (TSX: OGI) (NASDAQ: OGI) reported their fiscal third-quarter results. The company announced top-line revenue of $20.3 million, a 39% increase quarter over quarter and 13% year over year. The companies adult-use net revenue segment grew 40% over the last quarter to $16.8 million. The company had a negative gross margin before fair value adjustments of $3 million and had a net loss of $4 million.

Two analysts increased their 12-month price targets following earnings, bringing the 12-month average price target to C$3.93. The company has 14 analysts covering the stock, with the street high sitting at C$5.95 from Cantor Fitzgerald and the lowest comes in at C$2.50. Out of the 14 analysts, one analyst has a strong buy rating, two have buys, and the other 11 have hold ratings.

In Canaccord’s note on July 13th, they reiterate their C$3.50 price target and hold rating, saying that the top-line growth still didn’t move the needle towards profitability. The results generally came in below their estimates.

Below you can see Canaccord’s estimate versus the results. Canaccord estimated that revenue would come in at $19.8 million. They say that the increase was primarily due to “a normalization of ~C$7M of lost revenues in the prior quarter due to production and processing constraints.” COVID-19 headwinds and lower provincial demand however still damped the growth in the adult-use segment. Canaccord believes that the companies $22 million in cash on hand will be sufficient for all “near-to-medium-term operating losses and planned Capex spend.”

Below you can see Canaccord’s revised 2021 and 2022 estimates.


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.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

First Majestic Makes Second Major Discovery At Santa Elena In Just A Year

Related News

Canaccord Cuts Price Target On Meta Platforms To $170

Meta Platforms (Nasdaq: META) last week announced that they would be laying off 11,000 employees...

Thursday, November 17, 2022, 07:26:00 AM

Cronos: Raymond James Reiterates Price Target After PharmaCann Investment

Yesterday, Cronos Group (TSX: CRON) showed once again that the demand for U.S cannabis assets...

Tuesday, June 15, 2021, 05:50:00 PM

Xebec: Canaccord Views Three Year Plan As Ambitious, Without Risk

After an uneventful and lackluster quarter, Xebec Adsorption (TSX: XBC) provided investors with a three-year...

Friday, April 1, 2022, 03:43:00 PM

Pure Gold: Canaccord Suspends Rating After Operational Struggles

On Friday, Pure Gold Mining (TSXV: PGM) announced a number of updates for its investors....

Wednesday, April 27, 2022, 12:19:00 PM

Twitter: Analysts Call For $1.31 Billion In Q2 Revenue

Twitter (NYSE: TWTR) will be reporting its second quarter financial results on July 22 before...

Thursday, July 21, 2022, 05:07:00 PM