Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week
Welcome to the Cannabis Countdown. In This Week’s Edition, We Recap and Countdown the Top 10 Marijuana and Psychedelic Stock News Stories for the Week of November 16th – 22nd, 2020.
Without further ado, let’s get started.
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Another Record-Breaking Cannabis Earnings Season is in the Books for the “Big 4” U.S. Multi-State Operators (MSOs)
Despite a global pandemic, American Cannabis Stocks are in the midst of a breakout year, with the nation’s largest cannabis operators leading the charge. Here is our Q3 2020 Earnings recap from the top 4 U.S. Multi-State Operators MSOs Trulieve Cannabis (OTCQX:TCNNF), Curaleaf Holdings (OTCQX:CURLF), Green Thumb Industries (OTCQX:GTBIF) and Cresco Labs (OTCQX:CRLBF).
The 2020 Elections Brought Another Huge Win for Drug Reform Advocates as Cannabis was Legalized in Several New States, Oregon and Washington D.C. Legalized Medicinal Psilocybin, aka Magic Mushrooms
Field Trip Health (CSE:FTRP) (OTC:FTRPF) believes it has the right business plan, intellectual property (IP) and clinical infrastructure to develop blockbuster Psychedelic medicines. Perhaps most importantly, the company is led by a stacked lineup of successful business leaders and scientists.
Almost a Billion People Suffer From Mental Health Problems Worldwide, According to the World Health Organization
Silicon Valley Billionaire tech investor Peter Thiel has backed a Berlin start-up aiming to make Psychedelic drugs to treat mental health disorders in a $125 million funding round. ATAI Life Sciences, which describes itself as a drug development platform, was set up to acquire, incubate and develop psychedelics and other drugs that can be used to treat depression, anxiety, addiction and other mental health conditions.
Tilray Says the Purpose is to ‘Reduce the Company’s Debt and Eliminate $6.2 Million in Annual Cash Interest Costs’
Effectively, Tilray (NASDAQ:TLRY) agreed to repurchase a portion of its Notes at a 36% discount to their face value, using shares issued at the Company’s most recent closing market price (which is equivalent to a conversion price of $7.36 per share).
“Revive Continues to Be Focused on Developing Novel Uses for Psilocybin That Leverages Our Proprietary Oral Thin Film Delivery Technology as a Differentiated Therapeutic Approach”
Revive Therapeutics (OTCPK: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce it has entered into an exclusive research collaboration agreement with PharmaTher Inc., a wholly-owned subsidiary of Newscope Capital Corporation (OTC:PHRRF) and a specialty psychedelics pharmaceutical company, to accelerate the development of psilocybin in the treatment of cancer and the discovery of novel uses of undisclosed psychedelic compounds.
In an Update to Clients, the Analyst Said TerrAscend’s Growth Prospects in Key U.S. States Look Excellent
ATB Capital Markets analyst Kenric Tyghe has increased his one-year target on cannabis company TerrAscend (OTCQX:TRSSF), which just released quarterly numbers and guidance for 2021. TerrAscend has already had a remarkable year in the markets, with the stock up 245% YTD, but Tyghe sees more upside. With his new forecast, Tyghe maintained his “Outperform” rating for TER and moved his target from $12 to $15.
The Collaboration Will Initially Focus on Special Operations Veterans Through Field Trip’s Basecamp Division, and Then Expand to General Population Seeking Treatment with Psychedelic Therapies
Field Trip Health (OTC:FTRPF), a global leader in the development and delivery of psychedelic therapies, and WHOOP, the human performance company, today announced a partnership whereby Field Trip will be using WHOOP Strap 3.0 to measure the biometric effects of Field Trip’s psychedelic therapies.
Curaleaf Recently Reported Q3 Earnings with the Company Reporting Total Revenue of $182.4 Million, up 55% From the Third Quarter
Matt Bottomley of Canaccord Genuity raised his 12-month price target to on Curaleaf (OTCQX:CURLF) C$18.50 from C$16.00 and reiterated their speculative buy rating on the company. A number of other analysts changed their ratings on the company following the financial results, including the following:
- Canaccord Genuity raised its price target to C$18.50 from C$16.
- Eight Capital raised its target price to C$20 from C$16.
- Alliance Global partners raised its target price to C$22 from C$16.
“As a Clinical-Stage Biotechnology Company, Quarterly Financials Are Not a Materially Impactful Event, Apart From Unexpected Variations in Forecast Cash Burn”
On Friday, November 13th, MindMed (OTCQB:MMEDF) reported their third-quarter 2020 financial results. Tania Gonsalves, Canaccord Genuity’s biotechnology analyst, has a C$2 price target and a speculative buy rating.
Beacon Analyst, Russell Stanley is Feeling More Bullish on Trulieve After the Company’s Third-Quarter Earnings Beat
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