Organigram (TSE:OGI) Price Target Lowered to C$3.25 at Canaccord Genuity Group

Organigram (TSE:OGI) had its price objective lowered by Canaccord Genuity Group from C$3.75 to C$3.25 in a research report released on Wednesday morning, BayStreet.CA reports. Canaccord Genuity Group currently has a speculative buy rating on the stock.

OGI has been the subject of several other research reports. Jefferies Financial Group reduced their price objective on shares of Organigram from C$4.95 to C$4.40 and set a buy rating for the company in a report on Tuesday, February 27th. ATB Capital set a C$5.25 price objective on shares of Organigram and gave the company an outperform rating in a report on Wednesday, April 3rd. Finally, Alliance Global Partners raised their price objective on shares of Organigram from C$2.00 to C$2.70 and gave the company a neutral rating in a research note on Wednesday, February 14th.

Organigram Price Performance

TSE OGI opened at C$2.70 on Wednesday. The company has a 50-day moving average price of C$2.78 and a two-hundred day moving average price of C$2.34. The stock has a market cap of C$278.10 million, a price-to-earnings ratio of -1.04, a price-to-earnings-growth ratio of 0.42 and a beta of 1.10. The company has a current ratio of 6.95, a quick ratio of 2.62 and a debt-to-equity ratio of 1.75. Organigram has a 52 week low of C$1.35 and a 52 week high of C$3.95.

Organigram (TSE:OGI) last announced its earnings results on Tuesday, February 13th. The company reported C($0.19) earnings per share for the quarter, missing the consensus estimate of C($0.13) by C($0.06). Organigram had a negative net margin of 153.80% and a negative return on equity of 54.53%. The business had revenue of C$36.46 million for the quarter, compared to the consensus estimate of C$38.13 million. Analysts forecast that Organigram will post 0.08032 EPS for the current year.

Insider Buying and Selling

In other Organigram news, Director Donald Geoffrey Machum sold 23,000 shares of Organigram stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of C$2.74, for a total value of C$62,964.80. Insiders own 27.32% of the company’s stock.

Organigram Company Profile

Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O' Buds, Monjour, Trailblazer, SHRED'ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.