Oppenheimer Maintains a Hold Rating on Canopy Growth (CGC)

In a report released today, Rupesh Parikh from Oppenheimer maintained a Hold rating on Canopy Growth (CGCResearch Report). The company’s shares closed last Tuesday at $24.52.

According to TipRanks.com, Parikh is a 5-star analyst with an average return of 12.1% and a 65.2% success rate. Parikh covers the Consumer Goods sector, focusing on stocks such as Bj’s Wholesale Club Holdings, The Estée Lauder Companies, and Albertsons Companies.

Currently, the analyst consensus on Canopy Growth is a Hold with an average price target of $28.94, which is a 15.8% upside from current levels. In a report issued on June 1, Canaccord Genuity also upgraded the stock to Hold with a C$30.00 price target.

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The company has a one-year high of $56.50 and a one-year low of $13.83. Currently, Canopy Growth has an average volume of 3.49M.

Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CGC in relation to earlier this year.

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Canopy Growth Corp. engages in the production and sale of medical cannabis. The company offers products including oils and concentrates, soft gel capsules and hemp. It focuses on the treatment of chronic pain, seizures, muscle spasms, nausea, and loss of appetite. The company was founded by Bruce Linton on August 5, 2009 and is headquartered in Smith Falls, Canada.