|Bid||6.08 x 0|
|Ask||6.09 x 0|
|Day's Range||5.88 - 6.18|
|52 Week Range||2.65 - 10.08|
|Beta (5Y Monthly)||2.09|
|PE Ratio (TTM)||52.33|
|Earnings Date||Jul 30, 2020 - Aug 04, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||8.26|
NextGen's (NXGN) fiscal fourth-quarter 2020 results gain from strong Recurring revenues.
Cooper Companies' (COO) fiscal second-quarter performance is likely to reflect better-than-expected performance at CVI and CSI.
A steep selloff on Friday in the shares of Canopy Growth Corp. increases the attractiveness of Aurora Cannabis Inc. and Aphria Inc. which both trade at a discount on enterprise value/current sales despite having similar or even better growth prospects, according to Cantor Fitzgerald. "Admittedly, WEED has $1.3Bn of cash (although down from $4.9Bn, and at an annualized free cash flow run rate of -C$1.2Bn based on the Mar qtr), but the gap seems excessive to us," analyst Pablo Zuanic wrote in a note to clients. Canopy shares tumbled after the company's March quarter sales fell short of estimates and the company pulled guidance for reaching positive EBITDA. "We think WEED's March quarter problems were company-specific; the company's rec sales before provisions were down 28% seq in the Mar quarter, while the industry grew 18%, with all the LPs that we cover posting double-digit growth," the analyst wrote. "As such, while June may be challenging for the LP industry (potentially), we believe WEED will lag again by a hefty margin." Zuanic favors Aurora and Aphria, which he rates as overweight, the equivalent of buy. The two companies had the industry's higher B2B recreational sales in the March quarter, he wrote. Aurora is well ahead of peers in domestic medical sales too, said the note. Aurora's U.S.-listed shares were down 3% premarket, while Aphria was down 1.2%. Canopy was down 3.2% and has fallen 17.6% in the year to date, while the Cannabis ETF has fallen 15.6% and the S&P 500 has fallen 6%.
Canadian cannabis stocks tumbled Friday after Canopy Growth Corp (NYSE: CGC) reported a significant miss for its March quarter sales and withdrew its outlook for reaching positive EBITDA. Canopy also expressed concern over the company's June quarter prospects.The problems witnessed by Canopy Growth in the March quarter seem to be company-specific, and the broader sell-off among the group makes Aphria Inc (NYSE: APHA) and Aurora Cannabis Inc (NYSE: ACB) even more attractive, according to Cantor Fitzgerald.The Aphria, Aurora Analyst Pablo Zuanic maintained Overweight ratings on both Aphria and Aurora Cannabis, with price targets of CA$9.55 ($6.97) and CA$27.00 ($19.71), respectively.The Cannabis Market Thesis While Canopy Growth reported a 28% sequential decline in recreational sales before provisions, the industry witnessed 18% growth in the March quarter, Zuanic said in the note. (See his track record here.) Although June could be challenging for the industry, other companies will likely perform much better than Canopy Growth, the analyst said. U.S. data indicated robust demand during the pandemic, he said. Friday's sell-off increases the attractiveness of Aphria and Aurora Cannabis, as both companies are performing better than Canopy Growth in key metrics like scale, sales growth, average pricing and Cannabis 2.0 products; they have better profit margin trajectories; and their stocks currently trade at "hefty discounts," Zuanic said. APHA, ACB Price Action Shares of Aurora Cannabis were down 1.28% at $13.90 at the time of publication Monday, while Aphria's stock was up 4.14% at $4.40. View more earnings on ACBRelated Links: The Week In Cannabis: A Mixed Bag Leads Marijuana Stocks To UnderperformCantor Fitzgerald Says Aurora Cannabis Sell-Off Creates Entry PointPhoto courtesy of Aurora Cannabis. Latest Ratings for ACB DateFirmActionFromTo May 2020JefferiesDowngradesHoldUnderperform May 2020Cantor FitzgeraldMaintainsOverweight May 2020CIBCMaintainsNeutral View More Analyst Ratings for ACB View the Latest Analyst Ratings See more from Benzinga * Aphria, Aurora Among Top Performers As Canadian Cannabis Sales Spike * Canopy Growth Set To Become Cannabis Sector Leader, Says BofA * Cantor Cuts Canopy Growth Target After Warrants Exercise(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
This week brought a mixed bag of news for the cannabis industry.Aphria Inc (NYSE: APHA) announced it will transfer its stock from the New York Stock Exchange to the Nasdaq exchange after the market close June 5, and a long list of earnings reports, some better than others.Cresco Labs Inc. (CSE: CL) (OTC: CRLBF) had a great week with numerous store-opening announcements. The company also reported first-quarter revenue of $66.4 million, up 60% from the previous quarter. "In Q1 we built, staffed, integrated, and refined our operations in the largest and most important cannabis markets in the U.S.," said the company's co-founder and CEO Charles Bachtell.TerrAscend Corp. (CSE: TER) (OTC: TRSSF) reported net sales of CA$34.8 million (US$25.2 million) for the first quarter of 2020, up 34% quarter-over-quarter and 139% year-over-year. The Toronto-based company reached a positive adjusted EBITDA of CA$4.9 million versus a loss of CA$5.5 million in the corresponding quarter last year.Amid restructuring efforts, Canopy Growth Corp. (TSX: WEED) (NYSE: CGC) reported a fourth-quarter net loss of CA$1.3 billion ($946.4 million), up from the loss of CA$347.5 million it posted for the same quarter a year ago. On the other hand, net revenue of CA$399 million was up 76% year-over-year, but down 13% quarter-over-quarter. See the full results here.Following the report, Eric Choe, founder of StockDweebs, said Canopy Growth is well-positioned to rally on the production, distribution and sale of its cannabis products despite the recent downfall: "It relies primarily on retail traffic and the sale of medicinal and recreational cannabis products - this could boost overall sales and top-line figures once stores start opening post-COVID."Cantor Fitzgerald's Pablo Zuanic seemed to disagree, noting the company has considerable downside risk following the fourth-quarter report.See more financial results from Vibe Bioscience Ltd. (CSE: VIBE) (OTC: VBSCF), The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTC: TGODF), Slang Worldwide (CNSX: SLNG), Evogene Ltd. (NASDAQ: EVGN), and more, at our Cannabis Earnings Center.Don't miss this opportunity to connect with THE cannabis movers and shakers from across the globe during Benzinga's first Virtual Cannabis Capital Conference on June 1.For their part, ETFs closed the week on the red. Over the five trading days of the week: * ETFMG Alternative Harvest ETF (NYSE: MJ) lost 2%. * AdvisorShares Pure Cannabis ETF (NYSE: YOLO) slipped 0.37%. * Cannabis ETF (NYSE: THCX) dropped 3.85%. * Amplify Seymour Cannabis ETF (NYSE: CNBS) shed 2.83% of its value. * SPDR S&P 500 ETF Trust (NYSE: SPY) closed the period up 2.95%.Debra Borchardt, CEO of Green Market Report called the earnings results "staggering," adding "It seems like it will be a long time before these companies can recover from past management decisions and give investors a company that they can believe in."In other news, real estate investment trust Innovative Industrials Properties (NYSE: IIPR) reported the upsize and pricing of an underwritten public offering of its common shares at an estimated cost of $100 million. The offering consists of 1,348,389 common shares.Banking and payment technology company Hypur partnered with business software provider Odoo to streamline the cannabis purchasing process. Together they will provide modern, digital payments, and bolster point-of-sale operations. The partnership will also enable customers utilize Hypur's new nationwide "safe checkout" feature, which was recently rolled out with Caliva, as well as online cannabis marketplace, Dutchie.Psychedelics company Red Light Holland Corp. started trading on the Canadian Securities Exchange under the ticker symbol "TRIP," and appointed Bruce Linton, the co-founder and former CEO of Canopy Growth, as chairman of its advisory board.Advanced Flower Capital Management LLC confirmed its associate has provided Nature's Medicines with $42 million in financing.Louisiana is moving forward with a piece of legislation that would make medical marijuana move easily available in the state by authorizing recommendations from any state-licensed physician, while updating the list of qualifiable medical conditions.House Bill 819 passed Senate vote on Wednesday by 28 to 6.Find our cannabis, hemp and psychedelics news in Spanish on El Planteo.More News From The Week True Terpenes, a producer of GMP/ISO/FSSC-certified terpenes, formed a scientific advisory board (SAB) to advance research in the cannabis industry. The SAB will be focused on studying the entourage effect, where the benefits of medical cannabis can be enhanced when combined with terpenes. Board members include Dr. Ethan Russo, a cannabis and pharmaceutical scientist who specializes in the entourage effect. Dr. Russo previously worked with GW Pharmaceuticals on progressing Epidiolex and Sativex through clinical trials, becoming the first cannabis-based drug to be approved by the Food & Drug Administration."There is a growing body of anecdotal evidence that supports the existence of the entourage effect. The profound potential for cannabis medicine to positively impact human health compels the cannabis industry to establish scientific proof of the synergistic interaction between terpenes and cannabinoids. True Terpenes has unmatched access to the global terpenes supply chain and a proprietary library of terpene profiles that our company is contributing to these efforts," said CEO Chris Campagna.New Wave Holdings Corp. (CSE: SPOR) (OTC: TRMND) announced its plans to sponsor TheraPsil, a Victoria, British Columbia-based non-profit coalition seeking legal access to psilocybin for Canadians in palliative care. The coalition is focused on providing legal, safe access to psychedelic therapies as well as education. In collaboration with domestic and global partners, the organization plans to help support the development of effective protocols in collaboration with health professionals."We are looking forward to working with TheraPsil to help bring psychedelic therapy to patients in palliative care. It is through education, training, research and the championing of those patients who could benefit from access to these therapies that we will see this initiative move forward and see so many people be helped," said Trumbull Fisher, President of New Wave. Medical Marijuana, Inc. (OTC: MJNA) subsidiary Kannaway welcomed Earl Monroe, former NBA player for the Baltimore Bullets and the New York Knicks, to its Sports Team to help spread awareness on the benefits of CBD for athletes. Monroe played 13 seasons in the NBA. He was inducted into the Naismith Memorial Basketball Hall of Fame in 1990. "Earl uses our Premium Full Spectrum CBD and topical salve products to help manage the aches that are a result of many years of championing a professional sport," said Kannaway® CEO Blake Schroeder. "We could not be more proud that our products have made a positive difference for him,"A class-action lawsuit claiming Colorado-based Elixinol, LLC's CBD products were illegal to sell under federal regulations was dismissed. The company creates, manufactures and sells various CBD products, including capsules, tinctures and dog treats. In McCarthy v Elixinol, LLC, lawyers argued that under the 2018 Farm Bill the hemp-derived CBD company had the right to transport and ship hemp. In addition, the FDA's current regulations do not prohibit any company from selling hemp-based products. The suit was filed in the United States District Court for the Northern District of California in December 2019."Elixinol isn't the only hemp and CBD company facing these unfounded class action lawsuits," says Jonathan Miller, chair of Frost Brown Todd's hemp industry team and general counsel of the U.S. Hemp Roundtable. "These attorneys previously earned a similar dismissal in Fausett, et al. v. Koi CBD, LLC and are working other pending cases claiming product impurities and failed drug tests. The 2018 Farm Bill made hemp legal and companies running legitimate businesses that are building this new industry should be welcomed and embraced."Top Stories Of The Week Check out the top stories on Benzinga Cannabis this week: * A Medicinal Cannabis Company That's Conducting Clinical Research On Autism, Insomnia, And More * Poison Pills: A Common Component In Lawmaking, M&A And Now Cannabis * A Snapshot of America's Medical Marijuana Marketplaces: Michigan * Cannabis Strain Names Are Meaningless: What Is The Industry Doing About It? * Virtual Benzinga Cannabis Capital Conference Offers Sneak Peek At Pot Industry's Coronavirus Recovery * MindMed To Include MDMA to Research Portfolio * Benzinga Cannabis Capital Conference Presents: Vivien Azer, Star Marijuana Analyst * Benzinga Cannabis Capital Conference Presents: Isiah Thomas, NBA Legend And CBD Investor * Benzinga Cannabis Capital Conference Presents: From Bud to Bloom - Grow Your Business The Right Way * What Isiah Thomas, John Salley And Al Harrington Have In Common (Hint: It's Not Basketball)Check out these and many other cannabis stories on Benzinga.com/cannabisLead image by Ilona Szentivanyi. Copyright: Benzinga.See more from Benzinga * ESPAÑOL • Odoo Ingresa a la Industria del Cannabis, Isiah Thomas, Avicanna en Colombia, Aphria, Aurora, y Más * The Week In Cannabis: A Great Week For Stocks Driven By Confusion, Aurora's Rally, New Advisors To Benzinga * ESPAÑOL • Reportes Trimestrales, Coronavirus y Acciones de Cannabis en Subida: ¿Qué Está Pasando?(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Veeva Systems' (VEEV) core Subscription business segment performed impressively in Q1.
Investor confidence is high in Inogen (INGN) stock, thanks to solid prospects.
As most of North America goes back to work following shutdowns due to the coronavirus outbreak, one sector that survived the economic weakness was the cannabis sector. The sector was generally seen as essential by various governments due to the medical cannabis aspect while other retailers were forced to close.The Canadian cannabis sector continues to see sales grow as more retail stores are opened and Cannabis 2.0 products are rolled out. For January/February, sales were roughly C$150 million per month. The country is now on the pace to top C$2 billion in annual sales this year.In April, the sector now has 1.5x the number of retail stores as recently as November with more stores on the way in the key province of Ontario. In addition, the Cannabis 2.0 rollout continues to provide another boost to sales.The bigger question for the sector was liquidity as financial markets became less willing to lend to firms in a developing market such as cannabis with the onset of a recession. Yet, despite weak access to affordable capital, the strong sector sales set up the players with excess cash to survive and thrive in this period. We’ve delved into these Canadian cannabis stocks with two stocks to consider here and one to avoid. Using TipRanks’ Stock Comparison tool, we lined up the three alongside each other to get the lowdown on what the near-term holds for these cannabis players.Aphria (APHA)We will start with Aphria, a Canadian cannabis producer with a strong cash balance sheet and a solid operating business. The stock has started a solid rally off the $3 lows due to encouraging signs in the cannabis sector.The company ended the last quarter with C$600 million in cash on the balance sheet. On the negative side, Aphria did have C$465 million in debt, but the key at this point in the cycle is the liquidity while smaller competitors lack access to reasonable funding.The company made the recent deal in May to convert C$127.5 million worth of convertible debt by issuing 18.7 million shares for a conversion price of $4.84 per share. The deal saves C$6.7 million in annual interest costs.Analysts are forecasting FY20 revenues reaching $390 million followed by nearly $500 million in FY21. The stock has a market cap below $1 billion so lots of value exists here.The stock is one of the cheapest in the Canadian cannabis space and Aphria is one of only a few cannabis companies with a net cash position above C$150 million. The stock rally to $4 appears the start of extended gains as Aurora Cannabis changed the sentiment in the Canadian cannabis sector.Overall, APHA holds a Moderate Buy rating from the analyst consensus, based on 5 “buy” ratings and 2 “holds.” Shares are selling for $4.19, and the average price target of $5.45 implies about 30% upside potential. (See APHA stock analysis on TipRanks)Canopy Growth (CGC)As with a lot of sectors, the rich only got richer during the downturn. In this case, Canopy Growth saw Constellation Brands cash in warrants providing more cash for financing growth. The large Canadian cannabis company ended the December quarter with a cash hoard of C$2.26 billion and the C$245 million from the warrants will further boost the balance sheet. The biggest question for Canopy Growth is whether the new management team can drastically cut the cash burn from large EBITDA losses.The news wasn’t really surprising with the strike price at only C$12.9783 per share for 18,876,901 warrants to purchase Canopy Growth when the stock was trading above C$21.The warrants equated to 5.1% of the outstanding shares of Canopy Growth placing the Constellation Brands position up to 38.6%. The company owns warrants to purchase another 139,745,453 shares for a controlling position of 55.8%.With the extra cash, Canopy Growth remains a solid stock to own here at $18. My recommendation has recently held to pick up the stock on weakness as the company looks to grow revenues while substantially cutting the EBITDA losses from the C$92 million in the last quarter. As the company gets closer to breakeven, the stock will regain a lot of the previous interest in the cannabis space that originally drove the stock above $50. (See Canopy stock analysis on TipRanks)Tilray (TLRY)The big-name Canadian cannabis company in the opposite position is Tilray The company has limited cash and a highly unprofitable business.Tilray generated $52 million in Q1 revenues and analysts forecast Q2 revenues of ~$55 million. The big problem is the ongoing large losses. The company plans to get quarterly operating expenses down to $40 million, but Tilray only generates gross margins in the 29% range.My biggest issue is that Tilray is plugged into a lot of different business with Canadian cannabis, U.S. hemp and international operations causing the large expense base. If the company had the balance sheet of Canopy Growth or Aphria, the spending levels wouldn’t be a problem.Tilray ended March with $174 million in cash and had to raise $60 million in debt during February before completing an equity offering. Back in March, the company sold 7.25 million shares and warrants for net proceeds of $90.4 million.Analysts have Tilray losing money for the next couple of years and the market isn’t going to find money-losing cannabis stocks very appealing in this environment. Investors should watch for the Canadian cannabis company to drastically reduce the quarterly EBITDA losses after losing another $21 million in Q1. Once Tilray gets to a position where additional funds aren’t needed, the stock can be removed from the 'avoid' list.To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclosure: No position.
This development, which is in response to the challenges brought on by the pandemic, is expected to boost Varian's (VAR) Oncology segment.
Baxter (BAX) receives the CE marking and regulatory approval for the Evo IQ Syringe Infusion system that will help in optimizing efficiency for clinicians.
Aphria (NYSE: APHA) will no longer be traded through that most classic of American financial institutions, the New York Stock Exchange (NYSE). On Tuesday, the company announced that its shares will move to the Nasdaq (NASDAQ: NDAQ), beginning at market open on Monday, June 8. The stock will retain its current ticker symbol of APHA.
Canada's recreation cannabis sales grew by 19% in March to reach CA$181.1 million ($131.5 million), ahead of most U.S. states, according to Cantor Fitzgerald.Analyst Pablo Zuanic said that Canada's March sales data was significantly ahead of Cantor's mid-single digit estimate, partly due to pantry loading, but also on account of continued Cannabis 2.0 rollouts.Ratings And Price Targets Cantor analyst Pablo Zuanic maintained the following ratings and price targets on cannabis stocks:Overweight * Aurora Cannabis Inc. (NYSE: ACB) with a CA$27 price target. * Aphria Inc. (NYSE: APHA) with a CA$9.55 price target. * OrganiGram Holdings Inc (NASDAQ: OGI) with a price target of CA$5.60. Neutral * Canopy Growth Corp (NYSE: CGC) with a price target of CA$25. * Tilray Inc (NASDAQ: TLRY) with a price target of $8. Underweight * Hexo Corp (NYSE: HEXO) with a price target of CA$0.72.Cantor's Cannabis Takeaways Comparing Canada's 17th month of recreational cannabis sales with Colorado's figures indicates that the country's market may grow to CA$14 billion by the end of 2024, Zuanic said in the industry note.So far, the best performers in the first quarter are Aphria, with 53% sales growth, and Aurora Cannabis and Tilray, with sales growth in the mid-20% range, the analyst said.Canopy Growth is scheduled to report its March quarter results Friday.Zuanic named Aphria and Aurora Cannabis as top picks.Related Links: Canopy Growth Set To Become Cannabis Sector Leader, Says BofAThe Week In Cannabis: A Great Week For Stocks Driven By Confusion, Aurora's Rally, New Advisors To BenzingaCourtesy photo * Analista: Aphria y Aurora Cannabis Posicionados para Liderar Ventas en CanadaLatest Ratings for APHA DateFirmActionFromTo May 2020Cantor FitzgeraldMaintainsOverweight May 2020Cantor FitzgeraldMaintainsOverweight Apr 2020CIBCMaintainsNeutral View More Analyst Ratings for APHA View the Latest Analyst Ratings See more from Benzinga * Cantor Fitzgerald Says Aurora Cannabis Sell-Off Creates Entry Point * Monthly Canadian Cannabis Sales Increased Ahead Of Coronavirus Pandemic(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Canadian cannabis company Aphria Inc (NYSE: APHA) announced Tuesday it will transfer its stock from the New York Stock Exchange to the Nasdaq exchange after the market closes June 5.What To Know"This move is a reflection of our ongoing commitment to find cost effective ways of operating so we can continue to deliver long-term value to shareholders," CEO Irwin D. Simon said in a press release. "Additionally, as a purpose driven Company, we believe Nasdaq will be a good fit for Aphria, particularly given our focus on, and the progress we have made, integrating ESG practices across our business."More than 76% of Nasdaq-listed companies report on ESG metrics.Why It's ImportantIn the last few years, some big names have defected from Intercontinental Exchange Inc's (NYSE: ICE) NYSE to the Nasdaq, including PepsiCo, Inc. (NASDAQ: PEP) in 2017 and Sanofi SA (NASDAQ: SNY) in 2019. Investopedia cites financial and logistical advantages to listing on the Nasdaq, which has smaller fees and less stringent criteria.Still, the NYSE claims the gains go both ways. According to its website, about $1.3 trillion in equity market cap has transferred from the Nasdaq to the NYSE since 2000.What's NextAphria will continue to trade under ticker symbol APHA and maintain its listing on the Toronto Stock Exchange.The stock trades around $4.28 per share.Don't miss this opportunity to connect with THE cannabis movers and shakers from across the globe during Benzinga's first Virtual Cannabis Capital Conference on June 1.Español: Empresa de Cannabis Aphria (APHA) Mudara Sus Acciones del NYSE al NasdaqSee more from Benzinga * NYSE To Delist Bankrupt Hertz: Report * Matthew Stafford Is Selling A 7,700-Square-Foot House With Michigan's Biggest Infinity Pool * Fauci Calls Moderna's Coronavirus Vaccine Candidate 'Quite Promising'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Henry Schein (HSIC) registers dismal performance within Dental business on suspension of non-emergency procedures in response to the pandemic.
Canada-based cannabis company Aphria Inc. said Tuesday its U.S.-listed stock will leave the New York Stock Exchange in favor of the Nasdaq Global Select Market, effective after the June 5 close. The stock will begin trading on the Nasdaq under the same ticker symbol "APHA" on June 8. "This move is a reflection of our ongoing commitment to find cost effective ways of operating so we can continue to deliver long-term value to shareholders," said Chief Executive Irwin Simon. Aphria's stock rose 4.0% in premarket trading. It has gained 5.8% over the past three months through Friday, while the Cannabis ETF has advanced 3.6% and the S&P 500 has lost 5.2%.