Organigram’s performance so far
Organigram (OGRMF) is among the top gainers compared to cannabis companies (HMMJ) such as Canopy Growth (WEED) (CGC) and Hydropothecary (HYYDF), both of which have delivered positive YTD returns. Organigram has returned about 14% YTD as of August 7.
The consensus ratings on Organigram also remained unchanged month-over-month as of August 7. The overall recommendation for the company was a “buy” over the next-12-month period similar to what we saw for the two companies covered earlier in this series. Out of the eight analysts, three maintained a “strong buy” recommendation on the stock, and five analysts maintained a “buy.” As we see in the above chart, none of the analysts had a “hold” recommendation or a “sell” recommendation on the stock for the next 12 months.
Organigram’s current market price is 5.6 Canadian dollars, which is much higher than the consensus mean price target of 7.1 Canadian dollars. The mean price target rose from 6.8 Canadian dollars last month. The median price target also rose to 7.3 Canadian dollars from 7 Canadian dollars last month.
In the final part of this series, we’ll discuss CannTrust’s (CNTTF) ratings.