Piper Jaffray Companies Begins Coverage on Aurora Cannabis (NYSE:ACB)

Piper Jaffray Companies began coverage on shares of Aurora Cannabis (NYSE:ACB) in a research note issued to investors on Monday, Briefing.com Automated Import reports. The brokerage issued a neutral rating and a $7.00 price target on the stock. Piper Jaffray Companies also issued estimates for Aurora Cannabis’ Q4 2019 earnings at ($0.02) EPS, FY2019 earnings at ($0.26) EPS, Q1 2020 earnings at ($0.02) EPS, Q2 2020 earnings at ($0.02) EPS, Q3 2020 earnings at ($0.01) EPS, Q4 2020 earnings at $0.00 EPS, FY2020 earnings at $0.05 EPS, Q1 2021 earnings at $0.01 EPS, Q2 2021 earnings at $0.01 EPS, Q3 2021 earnings at $0.02 EPS, Q4 2021 earnings at $0.02 EPS and FY2021 earnings at $0.05 EPS.

Several other analysts have also issued reports on the company. Zacks Investment Research raised Aurora Cannabis from a hold rating to a buy rating and set a $7.50 target price on the stock in a report on Thursday, August 8th. Stifel Nicolaus started coverage on Aurora Cannabis in a report on Wednesday, June 5th. They set a hold rating on the stock. Desjardins started coverage on Aurora Cannabis in a research report on Thursday, April 25th. They set a buy rating and a $9.07 price objective for the company. LADENBURG THALM/SH SH started coverage on Aurora Cannabis in a research report on Wednesday, July 17th. They set a buy rating and a $9.00 price objective for the company. Finally, Compass Point started coverage on Aurora Cannabis in a research report on Monday, July 8th. They set a neutral rating for the company. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $8.23.

ACB opened at $6.09 on Monday. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 50.75 and a beta of 2.44. Aurora Cannabis has a 52-week low of $4.45 and a 52-week high of $12.52. The company has a current ratio of 2.37, a quick ratio of 1.98 and a debt-to-equity ratio of 0.10. The stock’s fifty day moving average is $6.90.

Aurora Cannabis (NYSE:ACB) last released its earnings results on Tuesday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The company had revenue of $49.00 million for the quarter, compared to analyst estimates of $50.92 million. Aurora Cannabis had a positive return on equity of 1.24% and a negative net margin of 122.65%. As a group, equities analysts anticipate that Aurora Cannabis will post -0.23 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Aurora Cannabis during the 1st quarter worth $25,000. Financial Management Professionals Inc. raised its position in Aurora Cannabis by 586.3% in the first quarter. Financial Management Professionals Inc. now owns 3,061 shares of the company’s stock valued at $28,000 after purchasing an additional 2,615 shares during the last quarter. Carroll Financial Associates Inc. bought a new position in Aurora Cannabis in the first quarter valued at about $27,000. Burt Wealth Advisors raised its position in Aurora Cannabis by 1,033.3% in the first quarter. Burt Wealth Advisors now owns 3,400 shares of the company’s stock valued at $31,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Mackey Komara & Dankovich LLC bought a new position in Aurora Cannabis in the second quarter valued at about $27,000. Institutional investors and hedge funds own 9.10% of the company’s stock.

About Aurora Cannabis

Aurora Cannabis Inc produces and distributes medical cannabis products. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain, from facility engineering and design to cannabis breeding, genetics research, production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution.

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Analyst Recommendations for Aurora Cannabis (NYSE:ACB)

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