Clarus Thinks VIVO Cannabis’ Stock is Going to Recover

By Carrie Williams

In a report released yesterday, Noel Atkinson from Clarus reiterated a Buy rating on VIVO Cannabis (VVCIFResearch Report), with a price target of $0.70. The company’s shares closed last Thursday at $0.15, close to its 52-week low of $0.11.

According to TipRanks.com, Atkinson is ranked #204 out of 6244 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for VIVO Cannabis with a $0.35 average price target.

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Based on VIVO Cannabis’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $6.3 million and GAAP net loss of $9.73 million. In comparison, last year the company earned revenue of $5.84 million and had a GAAP net loss of $8.02 million.

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VIVO Cannabis, Inc. engages in the cultivation and production of cannabis-based products. It operates through the following segments: Medical and Non-Medical Cannabis, Patient Clinic, and Corporate. The Medical and Non-Medical Cannabis segment produces and sells cannabis and cannabis-derived products for medical purposes and for the adult-use market. The Patient Clinic segment manages education focused, patient-centric, and cannabis discovery clinics under the name of Harvest Medicine. The Corporate segment relates to the non-production related corporate activities and international operations. The company was founded by Ken Clement in 2007 and is headquartered in Napanee, Canada.