CIBC Raises Aphria (NYSE:APHA) Price Target to $7.50

Aphria (NYSE:APHA) had its price objective raised by CIBC from $6.00 to $7.50 in a research report report published on Thursday morning, The Fly reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus raised Aphria from a hold rating to a buy rating and upped their target price for the stock from $5.30 to $8.00 in a report on Monday, July 13th. Bank of America upped their target price on Aphria from $5.00 to $7.00 and gave the stock a buy rating in a report on Thursday, April 16th. Eight Capital raised Aphria to a buy rating in a report on Thursday, April 16th. Cantor Fitzgerald upped their target price on Aphria from $10.50 to $11.00 and gave the stock an overweight rating in a report on Monday, July 27th. Finally, Zacks Investment Research upgraded Aphria from a hold rating to a strong-buy rating and set a $7.00 price target on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Aphria presently has a consensus rating of Buy and a consensus price target of $8.60.

Shares of APHA opened at $4.78 on Thursday. Aphria has a 12-month low of $1.95 and a 12-month high of $7.60. The business has a 50-day simple moving average of $4.60 and a two-hundred day simple moving average of $4.01. The company has a quick ratio of 3.73, a current ratio of 5.19 and a debt-to-equity ratio of 0.25. The stock has a market cap of $1.37 billion, a PE ratio of 53.06 and a beta of 2.19.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its position in shares of Aphria by 64.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,681 shares of the company’s stock valued at $26,000 after buying an additional 3,392 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Aphria during the 1st quarter valued at about $32,000. Alpine Global Management LLC bought a new stake in shares of Aphria during the 1st quarter valued at about $33,000. BerganKDV Wealth Management LLC boosted its position in shares of Aphria by 32.0% during the 1st quarter. BerganKDV Wealth Management LLC now owns 11,950 shares of the company’s stock valued at $36,000 after purchasing an additional 2,900 shares in the last quarter. Finally, AE Wealth Management LLC boosted its position in shares of Aphria by 42.7% during the 1st quarter. AE Wealth Management LLC now owns 15,934 shares of the company’s stock valued at $49,000 after purchasing an additional 4,770 shares in the last quarter. Hedge funds and other institutional investors own 9.57% of the company’s stock.

Aphria Company Profile

Aphria Inc produces and sells medical cannabis in Canada and internationally. The company offers sativa, indica, and hybrid medical marijuana products, as well as cannabis oils. It serves patients and health professionals. The company also sells its products online. Aphria Inc is headquartered in Leamington, Canada.

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