OrganiGram Holdings downgraded by CIBC with a new price target
$OGI
Biotechnology: Pharmaceutical Preparations
Health Care
CIBC downgraded OrganiGram Holdings from Neutral to Underperform and set a new price target of $3.25 from $5.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/17/2024 | Speculative Buy | Canaccord Genuity | |
| 4/15/2024 | Neutral → Buy | Alliance Global Partners | |
| 1/13/2023 | Hold → Buy | Stifel | |
| 1/12/2022 | Hold → Speculative Buy | Canaccord Genuity | |
| 1/12/2022 | $5.70 → $5.30 | Overweight | Cantor Fitzgerald |
| 12/8/2021 | $5.50 → $5.70 | Overweight | Cantor Fitzgerald |
Net revenue of $41.1 million increased 25% over the prior year period Adjusted EBITDA1 of $3.5 million versus $(2.9) million over the prior year period Established European foothold with a strategic investment in Sanity Group, a leading German cannabis company Completed landmark clinical study on FAST™ nanoemulsion technology showing faster onset, improved bioavailability of ingestible products Pro-forma cash position of $173 million2 Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI), (the "Company" or "Organigram"), a leading licensed producer of cannabis, announced its results for the third quarter ended June 30, 2024 ("Q3 Fiscal 2024"). THIRD QUARTER HIGHLIGHTS Third q
Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI), the parent company of Organigram Inc. (together, the "Company" or "Organigram"), a leading licensed producer of cannabis, announced today it will report earnings results for its third quarter fiscal 2024 ended June 30, 2024, on Tuesday, August 13, 2024, prior to market open. The Company will host a conference call to discuss its results with details as follows: Date: Tuesday, August 13, 2024 Time: 8:00 am Eastern Time To register for the conference call, please use this link: https://registrations.events/direct/Q4I9676663358 To ensure you are connected for the full call, we suggest registering a day in advance or at minimum 10 minutes
21% growth in recreational net revenue year-over-year First Jupiter private placement tranche closed adding $41.5 million of cash bringing Organigram's closing cash balance at quarter-end to $83.6 million Subsequent to quarter end, closed $28.8 million oversubscribed marketed offering, which when combined with the remaining two anticipated Jupiter tranches will increase cash position by additional $110 million Company's recent investment in Steady State LLC (d/b/a Open Book Extracts) ("OBX") adds to growing U.S. portfolio, which includes Phylos Bioscience Inc. ("Phylos") Organigram's U.S.-based strategic investments may benefit from expected change in rescheduling of cannabis b
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6-K - ORGANIGRAM HOLDINGS INC. (0001620737) (Filer)
Canaccord Genuity resumed coverage of OrganiGram with a rating of Speculative Buy
Alliance Global Partners upgraded OrganiGram from Neutral to Buy
Stifel upgraded OrganiGram from Hold to Buy
Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI), (the "Company" or "Organigram"), a leading licensed producer of cannabis, announced today that on August 30, 2024, the Company closed the second of three tranches (the "Second Tranche") of the previously announced C$124,559,674 follow-on strategic equity investment (the "Investment") by BT DE Investments Inc. (the "Investor"), a wholly owned subsidiary of British American Tobacco plc ("BAT"). Pursuant to the Second Tranche closing, the Investor acquired 4,429,740 common shares (the "Common Shares") and 8,463,435 Class A preferred shares (the "Preferred Shares" and together with the Common Shares, the "Shares") of the Company at a price of C$3
Net revenue of $41.1 million increased 25% over the prior year period Adjusted EBITDA1 of $3.5 million versus $(2.9) million over the prior year period Established European foothold with a strategic investment in Sanity Group, a leading German cannabis company Completed landmark clinical study on FAST™ nanoemulsion technology showing faster onset, improved bioavailability of ingestible products Pro-forma cash position of $173 million2 Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI), (the "Company" or "Organigram"), a leading licensed producer of cannabis, announced its results for the third quarter ended June 30, 2024 ("Q3 Fiscal 2024"). THIRD QUARTER HIGHLIGHTS Third q
FAST™ Nanoemulsion Technology Expected to be a Competitive Advantage for Organigram's Ingestible Portfolio Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI), a leading licensed producer of cannabis, is pleased to unveil the preliminary results of its landmark clinical pharmacokinetic (PK) study conducted via the Product Development Collaboration (PDC) on its latest innovation, nanoemulsion technology. This patent-pending technology, branded FAST™ (Fast Acting Soluble Technology), will be the first innovation to be commercialized by Organigram leveraging the output of the PDC*, a "Center of Excellence" established to focus on developing next-generation cannabis products. The clinical study
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The cannabis sector witnessed significant movement today, with varied performances across key stocks and ETFs following President Joe Biden’s Sunday announcement that he will not seek re-election. The news created ripples in the market, reflecting investor sentiment and speculation about future regulatory changes. Biggest Winners Aurora Cannabis (NASDAQ:ACB): Increased by 9.04% to $6.02. Positive sentiment is driven by strategic partnerships. Village Farms International (NASDAQ:VFF): Rose by 7.41% to $1.09. The stock benefited from operational efficiency news. Tilray Brands (NASDAQ:TLRY): Saw a rise of 6.70% to $1.87. Investor optimism on future growth prospects in Germany. SNDL (NASD
GAINERS: Leafbuyer Techs (OTC:LBUY) shares closed up 3900.00% at $0.02 Heritage Cannabis Holding (OTC:HERTF) shares closed up 125.00% at $0.00 AusCann Group Holdings (OTC:ACNNF) shares closed up 50.00% at $0.01 Cann Gr (OTC:CNGGF) shares closed up 37.50% at $0.02 Target Group (OTC:CBDY) shares closed up 30.59% at $0.00 Canopy Gwth (NASDAQ:CGC) shares closed up 17.25% at $8.35 RIV Capital (OTC:CNPOF) shares closed up 13.33% at $0.10 GrowGeneration (NASDAQ:GRWG) shares closed up 13.03% at $2.66 Auxly Cannabis Group (OTC:CBWTF) shares closed up 12.60% at $0.03 SNDL (NASDAQ:SNDL) shares closed up 9.66% at $2.27 Aurora Cannabis (NASDAQ:ACB) shares closed up 8.87% at $6.25 Village Farms Intl (NAS
President Joe Biden's announcement that he will not seek re-election has impacted the cannabis stock market. The sector's reaction varied, reflecting investor sentiment and market speculation about future regulatory changes under a potential new administration. This analysis, derived from Benzinga Pro data, highlights the key movements among popular cannabis stocks 24 hours after the announcement. Biggest Losers Several cannabis stocks faced a downturn following the announcement. Curaleaf Holdings (OTC:CURLF) decreased by 1.3986% to $4.23. Jushi Holdings (OTC:JUSHF) dropped by 5.0847%, reaching $0.56. Green Thumb Industries (OTC:GTBIF) fell by 2.3444% to $11.455. Trulieve Cannabis (OTC:TCN
Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI), (the "Company" or "Organigram"), a leading licensed producer of cannabis, announced the appointment of Craig Harris to the Organigram Board of Directors effective today. Craig brings over 20 years of experience as a commercial lawyer, with a background in private practice and legal and regulatory engagement roles for various corporations. He is currently the Assistant General Counsel – Corporate & Commercial Legal at British American Tobacco plc (BAT). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240729497569/en/Craig Harris (Photo: Business Wire) "We are thrilled to welcome Cra
Organigram Holdings Inc. ("Organigram" or the "Company") (TSX:OGI) (NASDAQ:OGI), announced the appointment of Karina Gehring to the Organigram Board of Directors at the Company's annual general and special meeting held on January 18, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240119151071/en/Karina Gehring (Photo: Business Wire) "We are thrilled to welcome Karina to our Board of Directors. Her extensive expertise in marketing and brand management combined with her ongoing experience with BAT will be a tremendous asset to our Board," said Peter Amirault, Board Chair, Organigram. Karina is one of two directors (includi
Organigram Holdings Inc. ("Organigram" or the "Company") (TSX:OGI) (NASDAQ:OGI) announced today the results of voting at its annual general and special meeting of shareholders (the "Shareholders") held virtually on January 18, 2024 (the "Meeting"). Election of Directors Each of the nine nominees listed in the Company's management information circular dated December 20, 2023 (the "Circular") provided in connection with the Meeting were elected as directors of the Company. The Company received proxies and virtual votes at the Meeting as set out below: Nominee # Votes For % of Votes For # Votes Against % of Votes Against Peter Amirault 21,048,219