Organigram (TSE:OGI) Price Target Lowered to C$3.50 at ATB Capital

Organigram (TSE:OGI) had its price target dropped by equities research analysts at ATB Capital from C$5.25 to C$3.50 in a research note issued to investors on Tuesday,BayStreet.CA reports. ATB Capital’s price objective points to a potential upside of 66.67% from the company’s current price.

Separately, Canaccord Genuity Group reduced their price objective on Organigram from C$3.60 to C$3.15 and set a “speculative buy” rating for the company in a research note on Monday, December 9th.

Organigram Price Performance

Shares of TSE:OGI opened at C$2.10 on Tuesday. The company has a market cap of C$228.00 million, a P/E ratio of -0.84, a price-to-earnings-growth ratio of 0.42 and a beta of 1.13. The company’s fifty day moving average is C$2.26 and its two-hundred day moving average is C$2.30. The company has a quick ratio of 2.62, a current ratio of 6.95 and a debt-to-equity ratio of 1.13. Organigram has a 12-month low of C$1.61 and a 12-month high of C$3.95.

Insiders Place Their Bets

In other news, Senior Officer Paolo De Luca sold 12,014 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of C$2.52, for a total transaction of C$30,275.28. Insiders own 31.32% of the company’s stock.

Organigram Company Profile

Organigram Holdings Inc, through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O’ Buds, Monjour, Trailblazer, SHRED’ems, Edison Cannabis Co, Edison JOLTS, Tremblant, and Laurentian brands.