Aurora Cannabis (TSE:ACB) Price Target Raised to C$7.00

Aurora Cannabis (TSE:ACB) had its price target raised by analysts at ATB Cormark Capital Markets from C$5.60 to C$7.00 in a note issued to investors on Tuesday, BayStreet reports. The brokerage currently has a “tender” rating on the stock. ATB Cormark Capital Markets’ target price indicates a potential upside of 7.36% from the company’s current price.

ACB has been the subject of a number of other reports. Canaccord Genuity Group decreased their target price on shares of Aurora Cannabis from C$6.50 to C$5.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. BMO Capital Markets upgraded Aurora Cannabis to a “hold” rating in a research note on Wednesday, August 5th. Finally, TD lowered their target price on Aurora Cannabis from C$10.00 to C$8.00 and set a “buy” rating on the stock in a research note on Friday, June 12th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$6.67.

Aurora Cannabis Stock Performance

Shares of ACB stock traded up C$0.15 during mid-day trading on Tuesday, reaching C$6.52. The stock had a trading volume of 416,624 shares, compared to its average volume of 413,742. Aurora Cannabis has a 1-year low of C$3.59 and a 1-year high of C$9.33. The firm has a market cap of C$412.78 million, a price-to-earnings ratio of -3.36 and a beta of 0.64. The company has a current ratio of 5.36, a quick ratio of 2.48 and a debt-to-equity ratio of 4.30. The business’s fifty day moving average is C$5.18 and its 200-day moving average is C$4.71.

Aurora Cannabis (TSE:ACB) last issued its earnings results on Wednesday, August 5th. The company reported C($0.07) EPS for the quarter. Aurora Cannabis had a negative net margin of 9.53% and a negative return on equity of 5.21%. The firm had revenue of C$67.55 million during the quarter. On average, research analysts forecast that Aurora Cannabis will post -0.22 earnings per share for the current year.

Key Stories Impacting Aurora Cannabis

Here are the key news stories impacting Aurora Cannabis this week:

• Positive Sentiment: Curaleaf formally filed an update to its offering circular and notice of variation, advancing the enhanced bid to acquire all outstanding Aurora shares. The higher consideration improves the potential value available to Aurora shareholders. Curaleaf Files Update to Offering Circular
• Positive Sentiment: The sweetened offer raises the likelihood of a transaction or encourages further negotiations, providing a takeover-related catalyst for Aurora’s stock. Curaleaf sweetens offer to buy rival Aurora Cannabis
• Neutral Sentiment: Aurora continues to recommend that shareholders take no action while it reviews the revised bid. The company’s board has resisted Curaleaf’s hostile approach, so completion remains uncertain. Aurora Maintains Shareholder Recommendation
• Negative Sentiment: The proposed consideration is partly payable in Curaleaf shares, exposing Aurora investors to Curaleaf’s share-price volatility and leaving the final value potentially different from the stated implied US$5 per share. The hostile structure and board opposition also create deal-execution risk. Curaleaf raises Aurora Cannabis offer by 25%

Aurora Cannabis Company Profile

Aurora Cannabis, headquartered in Edmonton, Canada, cultivates and sells medicinal and recreational cannabis through a portfolio of brands that includes Aurora, CanniMed, Daily Special, MedReleaf, and San Rafael ’71. Although the company primarily operates in Canada, it has expanded internationally through medical cannabis exporting agreements or cultivation facilities in more than 20 countries.