Last month, OrganiGram (OGRMF) reported its first-quarter earnings for the quarter ending November 30. The earnings were received well and exceeded investors’ expectations. The company reported revenue growth of about 500% year-over-year due to the recreational cannabis sales. Since the company reported its earnings on February 28, its stock has risen nearly 11%. Let’s look at what the analysts recommend for the stock in February.
In February, analysts’ consensus recommendation for OrganiGram was a “buy.” The overall recommendation month-over-month from nine analysts remained largely remained unchanged. Among the nine analysts, three recommended a “strong buy,” while six recommended a “buy” on the stock. Note that these recommendations are for the next 12-month period but can change as new information becomes available as we go down the 12 month period. Also, none of the analysts have a “hold” or a “sell” on the stock. OrganiGram’s peers’ Tilray (TLRY) have an overall “hold” recommendation and Aphria (APHA) has a “buy” as on the date of this writing.
The consensus target price for OrganiGram in February remained unchanged month-over-month at 10.4 Canadian dollars. Just two months ago, in December, the price target stood at 9.8 Canadian dollars. The target price is also to be achieved in the next 12-month period. As on February 21, the stock closed at 7.7 Canadian dollars which would leave an upside of 31.8%.
Next, we’ll discuss the target price for Supreme Cannabis (SPRWF).