Piper Jaffray Companies Initiates Coverage on Tilray (TLRY)

Equities researchers at Piper Jaffray Companies assumed coverage on shares of Tilray (NASDAQ:TLRY) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $90.00 price target on the stock. Piper Jaffray Companies’ target price indicates a potential downside of 6.74% from the company’s current price. Piper Jaffray Companies also issued estimates for Tilray’s Q4 2018 earnings at ($0.33) EPS, FY2018 earnings at ($0.79) EPS, Q1 2019 earnings at ($0.43) EPS, Q2 2019 earnings at ($0.38) EPS, Q3 2019 earnings at ($0.32) EPS, Q4 2019 earnings at ($0.28) EPS, FY2019 earnings at ($1.40) EPS, Q1 2020 earnings at ($0.22) EPS, Q2 2020 earnings at ($0.19) EPS, Q3 2020 earnings at $0.01 EPS, Q4 2020 earnings at $0.21 EPS and FY2020 earnings at ($0.20) EPS.

Several other equities analysts also recently weighed in on TLRY. Zacks Investment Research downgraded shares of Tilray from a “hold” rating to a “sell” rating in a research note on Thursday, December 20th. Roth Capital restated a “neutral” rating on shares of Tilray in a research report on Tuesday, October 2nd. Benchmark began coverage on shares of Tilray in a research report on Tuesday, October 16th. They set a “buy” rating and a $200.00 price objective for the company. Finally, Cowen raised their price objective on shares of Tilray from $62.00 to $172.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $124.25.

Shares of NASDAQ:TLRY traded up $16.10 during midday trading on Wednesday, hitting $96.50. The company’s stock had a trading volume of 4,862,752 shares, compared to its average volume of 2,165,243. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.43 and a quick ratio of 4.98. Tilray has a 12-month low of $20.10 and a 12-month high of $300.00.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Tuesday, November 13th. The company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.08). The business had revenue of $10.00 million during the quarter, compared to analysts’ expectations of $10.25 million. Tilray had a negative return on equity of 60.74% and a negative net margin of 121.22%. Tilray’s quarterly revenue was up 85.2% compared to the same quarter last year. On average, research analysts expect that Tilray will post -0.57 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in TLRY. Morgan Stanley acquired a new stake in Tilray during the third quarter worth about $27,240,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Tilray during the third quarter valued at about $5,287,000. Artemis Investment Management LLP acquired a new stake in shares of Tilray during the third quarter valued at about $6,519,000. Zimmer Partners LP acquired a new stake in shares of Tilray during the third quarter valued at about $3,591,000. Finally, Federated Investors Inc. PA acquired a new stake in shares of Tilray during the third quarter valued at about $2,872,000. Hedge funds and other institutional investors own 6.08% of the company’s stock.

About Tilray

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Nanaimo, Canada.

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Analyst Recommendations for Tilray (NASDAQ:TLRY)

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