The analysts said Avicanna Inc. (TSX:AVCN) is reaching an inflection point where its revenue and profitability are about to take off as its products are moving to the commercial stage
SmallCapPower | May 5, 2021: After years of hard work Avicanna Inc. (TSX:AVCN), in our opinion, is reaching an inflection point where its revenue and profitability are about to take off as its products are moving to the commercial stage, writes Ubika Research analysts as they initiated coverage of Avicanna with a ‘Buy’ rating and a $4.00 per share target price.
They wrote: “The market is never short of cannabis companies that catch investors’ eyeballs in market mania. However, the reason that Avicanna got our attention is not its huge stock price swings but its solid efforts to build a biopharmaceutical business that seriously researches and develops cannabinoid-based products. Such efforts have made Avicanna a unique player in the market. The Company went through a drug development process for its medical cannabis products and put its hempderived cosmetic-focused consumer products to clinical trials to study their safety and efficacy. Avicanna is also collaborating with top academic research and medical institutions such as the University of Toronto and The Hospital for Sick Children on research projects and clinical trials. What distinguishes Avicanna from other players is also its vertical integration business model. By partnering with a leading organic agriculture company, Avicanna is growing and extracting its plants in-house, providing it with a largescale, sustainable, and low-cost supply of raw materials.”
Avicanna is a Canadian biopharmaceutical company providing the global marketplace with advanced natural cannabinoid solutions through an evidence-based approach offered across several product platforms including active pharmaceutical ingredient (API), medical, pharmaceutical, and derma-cosmetic. As a multinational organization with vertical integration, the Company is focused on utilizing the scientific research related to plant-derived cannabinoid products through its internal research platforms and strategic collaborations with world-class research institutions.
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