Aphria Inc Received its Third Buy in a Row

By Jason Carr

Analysts have been quite happy with Aphria Inc (TSXV: APH) stock lately, as another research firm gave the stock a Buy rating today. Analyst Noel Atkinson from Clarus rated Aphria Inc (TSXV: APH) a Buy, setting a C$25.25 price target.

Atkinson observed:

“We believe that leveraging the existing alcohol distribution infrastructure will be the path forward for the cannabis industry. Aphria’s embrace of outsourced distribution shows management’s focus on solidifying a national seed-to-sale infrastructure. It will also allow Aphria to completely focus on its core skill sets of sourcing new retailers, branding, production and servicing the medical-use channel.”

Atkinson has an average return of 197.6% when recommending Aphria Inc.

According to TipRanks.com, Atkinson is ranked #85 out of 4801 analysts.

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Currently, the analyst consensus on Aphria Inc is Strong Buy and the average price target is C$23.58, representing a 93.9% upside.

In a report issued on May 7, Canaccord Genuity also maintained a Buy rating on the stock with a C$25.50 price target.

Aphria Inc’s market cap is currently C$2.27B and has a P/E ratio of 60.8. The company has a Price to Book ratio of 3.08.

Aphria, Inc. engages in the production and supply of medical marijuana. Its products include alien dawg, champlian indica, grower’s blend, champlain-sativa and blueberry. The company was founded by Cole Cacciavillani and John Cervini on June 22, 2011 and is headquartered in Leamington, Canada.

The company’s shares closed on Thursday at C$12.16.