Aurora Cannabis Inc. saw a significant price increase of 19.34%, crossing above its 5-day SMA, amid a broader market decline with the Nasdaq-100 down 1.81% and the S&P 500 down 1.08%.
The surge is attributed to Aurora's launch of its proprietary cultivar Black Jelly in Poland, featuring a high THC content of 27%. This product introduction not only expands Aurora's portfolio of high-potency medical cannabis but also addresses the urgent demand from prescribers for reliable options in one of Europe's fastest-growing markets. The company's advanced genetic breeding program and cultivation excellence position it well for future growth in this sector.
This strategic move is expected to enhance Aurora's market share in Poland, solidifying its leadership in the international medical cannabis sector and potentially driving further growth in the region.
Wall Street analysts forecast ACB stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ACB is 4.32 USD with a low forecast of 4.32 USD and a high forecast of 4.32 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
Wall Street analysts forecast ACB stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ACB is 4.32 USD with a low forecast of 4.32 USD and a high forecast of 4.32 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Buy
1 Hold
0 Sell
Hold
Current: 4.320
Low
4.32
Averages
4.32
High
4.32
Current: 4.320
Low
4.32
Averages
4.32
High
4.32
No data
About ACB
Aurora Cannabis Inc. is a Canada-based medical cannabis company. The Company’s principal business lines are focused on the production, distribution and sale of cannabis and cannabis-derivative products in Canada and internationally. The Company’s segments include Cannabis and Plant Propagation. The Company's adult-use brand portfolio includes Drift, San Rafael '71, Daily Special, Tasty's, Being and Greybeard. Its medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co, as well as international brands, Pedanios, IndiMed and CraftPlant. The Company also holds a 50.1% controlling interest in Bevo Farms Ltd., a supplier of propagated vegetables and ornamental plants in North America. Its subsidiaries include Aurora Cannabis Enterprises Inc., Aurora Deutschland GmbH, Whistler Medical Marijuana Corporation, and Indica Industries Pty Ltd., among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
