OrganiGram Holdings (OGI) Gets a Hold Rating from Oppenheimer

Oppenheimer analyst Rupesh Parikh assigned a Hold rating to OrganiGram Holdings (OGIResearch Report) today. The company’s shares closed last Monday at $1.32, close to its 52-week low of $1.01.

According to TipRanks.com, Parikh is a 5-star analyst with an average return of 15.8% and a 67.6% success rate. Parikh covers the Consumer Goods sector, focusing on stocks such as Bj’s Wholesale Club Holdings, The Estée Lauder Companies, and United Natural Foods.

Currently, the analyst consensus on OrganiGram Holdings is a Moderate Buy with an average price target of $3.10, which is a 131.3% upside from current levels. In a report issued on November 19, Stifel Nicolaus also maintained a Hold rating on the stock with a C$1.75 price target.

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Based on OrganiGram Holdings’ latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $18.02 million and GAAP net loss of $89.87 million. In comparison, last year the company earned revenue of $24.75 million and had a GAAP net loss of $10.18 million.

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OrganiGram Holdings, Inc. engages in the production and sale of medical marijuana. Its products include strains, cannabis oils, and vaporizrs. The company was founded on July 5, 2010 and is headquartered in Moncton, Canada.