Aurora Cannabis stock (ACB) (ACBFF) has had a terrible performance over the last month. The stock continued to decline, and YTD (year-to-date), it is down almost 48%. The stock has lost almost half of its value since the beginning of this year. It is easy to see why investors are staying away from the cannabis sector (MJ) including Aphria (APHQF) and Cronos Group (CRON), both of which are down in the double digits YTD. However, analysts remain optimistic about Aurora Cannabis.
The consensus rating on Aurora Cannabis is unchanged from last month. The overall recommendation for the company was a “buy” over the next-12-month period, which was similar to what we saw for Canopy Growth (WEED). Out of four analysts, two maintained a “strong buy” recommendation on the stock, which was one more than the last month, and one analyst maintained a “buy” on Aurora Cannabis in August.
Month-over-month, the number of analysts recommending a “hold” on the stock remained unchanged, and the stock doesn’t have any “sell” recommendations.
The consensus mean price target for Aurora Cannabis rose to 9.7 Canadian dollars from 9.63 Canadian dollars a month ago. However, the median price target fell to 9 Canadian dollars from 9.5 Canadian dollars over the last month. The mean price target is about 57.5% higher than the closing of 6.2 Canadian dollars on August 8.
Next, we’ll look at Aphria.