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OrganiGram: Analysts’ Ratings and Target Price


May. 9 2019, Published 9:50 a.m. ET

OrganiGram update

On April 15, OrganiGram (OGRMF) reported its second-quarter earnings with sales of 34.9 million Canadian dollars—compared to 3.7 million Canadian dollars in the same quarter the previous year. The company reported an EBITDA of 13.6 million Canadian dollars, which expanded from 6.5 million Canadian dollars a year ago. Let’s look at analysts’ rating update after the company’s earnings.

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In the above chart, OrganiGram carried a consensus “buy” rating from the 11 analysts covering the stock as of May. Among the 11 analysts, four recommended a “strong buy” compared to five analysts a month ago. Six analysts recommended a “buy” rating on the stock, which remained unchanged month-over-month. One analyst recommended a “hold” rating compared to none over the past month.

Analysts remained bullish on the stock even after the earnings. OrganiGram is one of the only companies that reported a positive EBITDA. Canopy Growth (WEED), Aurora Cannabis (ACB), and Tilray (TLRY) are expected to report a negative EBITDA of -62 million Canadian dollars, -25 million Canadian dollars, and -$16 million in their respective upcoming earnings.

Price update

The current consensus target price on OrganiGram was upgraded to 11.9 Canadian dollars, which increased from 10.9 Canadian dollars for the next 12 months. OrganiGram was trading at 6.9 Canadian dollars on May 8, which leaves an upside of 27%. OrganiGram has returned 95% year-to-date. The company has outperformed the Horizons Marijuana Life Sciences ETF (HMMJ), which has returned 43%.


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