Sunday , 24 September 2023

These 5 Medical Marijuana Stocks Have the Greatest Upside Potential (+2K Views)

Investing in marijuana-related stocks is a high-risk, high-reward game due to all the uncertainties surrounding the legalization of the drug. Companies that do succeed, however, have potential to bring large capital gains. That being said we have identified five Canadian marijuana stocks with the biggest upside potential, according to consensus analyst price targets.

(All prices in Canadian dollars)

1. Maricann Group Inc. (CSE: MARI)

Maricann Group Inc., formerly Danbel Industries Corporation, is a Canada-based integrated producer and distributor of marijuana for medical purposes. As one of approximately 43 companies with a federal license to cultivate cannabis and one of approximately 30 independent licensed producers with a federal license to process and distribute cannabis, the Company services a patient base with more than 8,000 registered patients. Maricann is undertaking an expansion of the cultivation and support facilities to support existing and future patient growth.

  • Market Cap: $119,215,532
  • Price Target:  $5.50
  • Implied Upside: 237%

2. WeedMD Inc. (TSXV: WMD)

WeedMD Inc, formerly Aumento Capital V Corp, is a Canada-based company, which supplies a range of cannabis and cannabis-related products. The Company is a licensed producer of medical marijuana…and operates an approximately 20,000 square foot production facility in Aylmer, Ontario. Its products include: Dried Cannabis, Cannabis Extracts and Cannabis Vaporizes. The Company provides healthcare providers and their patients with the information they need to comprehend the role medical cannabis can play in their pain-management regimen, and enable them to make informed decisions regarding their overall health.

  • Market Cap: $50,205,572
  • Price Target:  $2.40
  • Implied Upside: 195%

3. Hydropothecary Corp. (TSXV: THCX)

Hydropothecary Corp, formerly BFK Capital Corp, is a Canada-based company, which is an authorized licensed producer and distributor of medical marijuana… The Company provides naturally and rigorously tested medical marijuana, grown without the use of synthetic pesticides in greenhouses. In addition to medical marijuana production and sales, the Company explores research and development opportunities for cannabinoid extracts, drugs and combinatory chemistry.

  • Market Cap: $96,495,538
  • Price Target:  $3.90
  • Implied Upside: 203%

4. Supreme Pharmaceuticals Inc. (TSXV: FIRE)

Supreme Pharmaceuticals Inc. is a Canada-based development-stage company focused on developing businesses in the cannabis market, with a specific focus on the wholesale sector of the medical cannabis market in Canada. The Company operates an approximately 342,000 square foot greenhouse facility located in Kincardine, Ontario…

  • Market Cap: $219,385,861
  • Price Target: $2.30
  • Implied Upside: 94%

5. ABcann Global Corp. (TSXV: ABCN)

ABcann Global Corp, formerly Panda Capital Inc., is a Canada-based company which operates as a licensed Canadian cannabis producer through ABcann Medicinals Inc. It provides a fully-operational, 14,500 square foot facility with production capacity of 1,000 kilograms annually and plans to commence development of a 71,000 square foot facility with production capacity of 20,000 kilograms per year.

  • Market Cap: $91,437,218
  • Price Target: $3.00
  • Implied Upside: 226%
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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.