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

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

Several other research analysts also recently commented on APHA. Bank of America lifted their price objective on Aphria from $5.00 to $7.00 and gave the stock a buy rating in a report on Thursday, April 16th. Cantor Fitzgerald lifted their price objective on Aphria from $10.50 to $11.00 and gave the stock an overweight rating in a report on Monday, July 27th. Eight Capital upgraded Aphria to a buy rating in a report on Thursday, April 16th. Zacks Investment Research upgraded Aphria from a hold rating to a strong-buy rating and set a $7.00 price objective on the stock in a report on Wednesday. Finally, Alliance Global Partners reiterated a buy rating and issued a $9.00 price objective on shares of Aphria in a report on Wednesday, July 15th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $8.60.

APHA opened at $4.78 on Thursday. The company has a market cap of $1.37 billion, a P/E ratio of 53.06 and a beta of 2.19. The business’s 50-day moving average price is $4.60 and its 200-day moving average price is $4.01. The company has a current ratio of 5.19, a quick ratio of 3.73 and a debt-to-equity ratio of 0.25. Aphria has a 12 month low of $1.95 and a 12 month high of $7.60.

A number of large investors have recently made changes to their positions in APHA. PNC Financial Services Group Inc. increased its holdings in Aphria by 64.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,681 shares of the company’s stock valued at $26,000 after purchasing an additional 3,392 shares during the period. Cetera Investment Advisers purchased a new position in Aphria during the 1st quarter valued at about $32,000. Alpine Global Management LLC purchased a new position in Aphria during the 1st quarter valued at about $33,000. BerganKDV Wealth Management LLC increased its holdings in 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 during the period. Finally, AE Wealth Management LLC boosted its position in 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 acquiring an additional 4,770 shares in the last quarter. 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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