Echelon Wealth Partners Believes Columbia Care (Other OTC: CCHWF) Won’t Stop Here

By Ryan Adsit

Echelon Wealth Partners analyst Andrew Semple maintained a Buy rating on Columbia Care (CCHWFResearch Report) on January 6 and set a price target of C$13.00. The company’s shares closed last Tuesday at $6.54, close to its 52-week high of $7.07.

According to TipRanks.com, Semple is a top 100 analyst with an average return of 121.6% and a 90.0% success rate. Semple covers the Basic Materials sector, focusing on stocks such as Fire & Flower Holdings, Green Thumb Industries, and Trulieve Cannabis.

Columbia Care has an analyst consensus of Moderate Buy, with a price target consensus of $9.12, representing a 38.6% upside. In a report issued on December 22, Alliance Global Partners also maintained a Buy rating on the stock with a C$10.00 price target.

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Columbia Care’s market cap is currently $1.7B and has a P/E ratio of -17.10. The company has a Price to Book ratio of 10.52.

Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CCHWF in relation to earlier this year.

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Columbia Care, Inc. engages in the cultivation, manufacture and provision of medical cannabis products and services. It distributes its products under the EleCeed, TheraCeed, and ClaraCeed brands. The company was founded by Nicholas Vita and Michael Abbott in 2012 and is headquartered in New York, NY.