Paradigm Capital set a $8.50 price objective on OrganiGram (NASDAQ:OGI) in a report published on Thursday morning, TipRanks reports. The brokerage currently has a buy rating on the stock.

A number of other research firms also recently weighed in on OGI. Pi Financial set a $12.00 target price on OrganiGram and gave the stock a buy rating in a report on Monday, July 15th. CIBC assumed coverage on OrganiGram in a report on Tuesday, September 24th. They set an outperformer rating and a $9.00 target price for the company. Oppenheimer assumed coverage on OrganiGram in a report on Thursday, September 5th. They set a market perform rating for the company. Jefferies Financial Group raised OrganiGram from a hold rating to a buy rating and set a $8.20 target price for the company in a report on Friday, October 11th. Finally, Zacks Investment Research raised OrganiGram from a hold rating to a buy rating and set a $4.00 target price for the company in a report on Thursday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $8.34.

OrganiGram stock traded down $0.13 during mid-day trading on Thursday, hitting $3.60. 2,070,365 shares of the company’s stock traded hands, compared to its average volume of 2,055,533. The company has a 50 day moving average of $3.93. OrganiGram has a fifty-two week low of $2.71 and a fifty-two week high of $8.44.

Several institutional investors and hedge funds have recently bought and sold shares of OGI. ETF Managers Group LLC bought a new position in shares of OrganiGram in the second quarter worth $44,872,000. Polar Asset Management Partners Inc. bought a new position in shares of OrganiGram in the second quarter worth $10,144,000. JW Asset Management LLC bought a new position in shares of OrganiGram in the second quarter worth $7,311,000. Ardsley Advisory Partners LP bought a new position in shares of OrganiGram in the second quarter worth $6,437,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of OrganiGram in the second quarter worth $6,095,000. 13.74% of the stock is owned by institutional investors.

About OrganiGram

OrganiGram Holdings Inc, through its subsidiaries, produces and sells dried cannabis and cannabis oil in Canada. It also offers wholesale shipping of cannabis plant cuttings, dried flowers, blends, pre-rolls, and cannabis oils to retailers and wholesalers. The company also exports its products. It sells its products online, as well as through phone orders.

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Analyst Recommendations for OrganiGram (NASDAQ:OGI)

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