Aurora Cannabis (NYSE:ACB) Now Covered by Piper Jaffray Companies

Piper Jaffray Companies initiated coverage on shares of Aurora Cannabis (NYSE:ACB) in a research note published on Monday, Briefing.com Automated Import reports. The brokerage issued a neutral rating and a $7.00 target price 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 research firms have also recently weighed in on ACB. Bank of America cut shares of Aurora Cannabis from a buy rating to a neutral rating and set a $7.30 price objective for the company. in a report on Thursday, July 18th. Zacks Investment Research raised shares of Aurora Cannabis from a hold rating to a buy rating and set a $7.50 price objective for the company in a report on Thursday, August 8th. Desjardins began coverage on shares of Aurora Cannabis in a report on Thursday, April 25th. They set a buy rating and a $9.07 price objective for the company. LADENBURG THALM/SH SH began coverage on shares of Aurora Cannabis in a report on Wednesday, July 17th. They set a buy rating and a $9.00 price objective for the company. Finally, Stifel Nicolaus began coverage on shares of Aurora Cannabis in a report on Wednesday, June 5th. They set a hold rating for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $8.23.

ACB opened at $5.67 on Monday. The company has a quick ratio of 1.98, a current ratio of 2.37 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average price of $6.87 and a 200-day moving average price of $7.89. Aurora Cannabis has a twelve month low of $4.58 and a twelve month high of $12.52. The stock has a market capitalization of $6.78 billion, a price-to-earnings ratio of 47.25 and a beta of 2.44.

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

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

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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