Zacks Investment Research upgraded shares of Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) from a hold rating to a buy rating in a research report report published on Wednesday morning, Zacks.com reports. They currently have $5.50 price objective on the biotechnology company’s stock.
According to Zacks, “Neptune Wellness Solutions Inc. operates as a nutrition supplement company. It develops and produces cannabis products, marine oils, seed oils and pet supplements. Neptune Wellness Solutions Inc., formerly known as Neptune Technologies & Bioressources Inc., is headquartered in Laval, Canada. “
Separately, BidaskClub lowered Zions Bancorporation NA from a sell rating to a strong sell rating in a report on Wednesday, May 15th.
Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) last posted its earnings results on Wednesday, June 12th. The biotechnology company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.02). The company had revenue of $4.26 million for the quarter, compared to analysts’ expectations of $4.82 million. Neptune Wellness Solutions had a negative net margin of 94.47% and a negative return on equity of 19.34%. As a group, equities research analysts expect that Neptune Wellness Solutions will post 0.02 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of NEPT. Deutsche Bank AG grew its holdings in shares of Neptune Wellness Solutions by 245.9% during the fourth quarter. Deutsche Bank AG now owns 517,135 shares of the biotechnology company’s stock worth $1,313,000 after purchasing an additional 367,614 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of Neptune Wellness Solutions during the fourth quarter worth about $367,000. Alpine Group USVI LLC purchased a new position in shares of Neptune Wellness Solutions during the first quarter worth about $303,000. Finally, CIBC World Markets Inc. purchased a new position in shares of Neptune Wellness Solutions during the first quarter worth about $63,000. 13.97% of the stock is owned by institutional investors.
Neptune Wellness Solutions Company Profile
Neptune Wellness Solutions Inc, a health and wellness products company, specializes in the extraction, purification and formulation of cannabis products, as well as other specialty ingredients, such as MaxSimil, a patented ingredient that enhances the absorption of lipid-based nutraceuticals, and various other marine and seed oils.
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