Barclays analyst Guarav Jain on Thursday initiated coverage of three cannabis stocks but said their businesses are limited by the relatively small size of the legal market in Canada. Barclays launched overage of Tilray and Cronos with an underweight rating and price targets of $10 and $5.50 respectively. Barclays also initiated coverage of Canopy Growth with a price target of $14 and a equal weight rating. Canada will account for about 30% of Canopy's and Tilray's operating enterprise value, and Read More...
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3 Biotech Stocks That Have More Than Tripled so far This Year
Here’s what they had to say about Cassava Sciences (NASDAQ: SAVA), Ocugen (NASDAQ: OCGN), and BioNTech (NASDAQ: BNTX). Prosper Junior Bakiny (Cassava Sciences): Shares of Cassava Sciences have soared by roughly 800% since the beginning of the year — a terrific performance and one which the company owes to Simufilam, an investigational medicine for the treatment of Alzheimer’s disease (AD). Positive data from an open-label study for the company’s leading candidate, coupled with the unexpected approval of Biogen’s AD drug Aduhelm, helped propel Cassava Sciences stock this year.
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