Neon Bloom Stock (OTC:NBCO), Trade Ideas

Neon Bloom Inc is operates as a holding company for investments in healthcare, wellness, agriculture, technology.

Cannabis

News

Penny Stocks

Markets

NBCO

Bazelet Health Systems, Inc., a wholly owned subsidiary of Neon Bloom Inc.

Bazelet Health Announces ACS Laboratory Analysis Shows 0% THC In Its Cannabis America Tri-Purpose Plant

Entrepreneurship

Financing

Movers & Shakers

Small Cap

General

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

GTBIF

UGRO

XXII

YCBD

CSE:GTII

CSE:CURA

CSE:MEDI

CSE:XCX

JMP Group Appoints Investment Expert Alfredo Barreto To Oversee Its Investment Banking Division

Cannabis Movers &amp; Shakers: JMP Group, GTI, Curaleaf, Conception Nurseries, Myconic, AMP, Neon, NCR, 22nd Century, cbdMD

Neon Bloom Inc

Goldman Sachs analyst Eric Sheridan maintains Roblox (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) with a Neutral and lowers the price target from $48 to $38.

Price Target

Analyst Ratings

RBLX

Goldman Sachs Maintains Neutral on Roblox, Lowers Price Target to $38

<a href="https://ml-eu.globenewswire.com/Resource/Download/be52a7ec-2630-49c0-b374-88ae71352c87" title="https://ml-eu.globenewswire.com/Resource/Download/be52a7ec-2630-49c0-b374-88ae71352c87">https://ml-eu.globenewswire.com/Resource/Download/be52a7ec-2630-49c0-b374-88ae71352c87</a>

Biotech

Novo Nordisk Announces Headline Results From The FRONTIER 2 Trial; Achieved Its Co-Primary Endpoints By Demonstrating A Reduction Of Treated Bleeding Episodes With Both Once-Weekly And Once-Monthly Mim8 Versus No Prophylaxis Treatment And Prior Coagulation Factor Prophylaxis Treatment

Goldman Sachs analyst Chris Shibutani maintains Revance Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVNC#NASDAQ">RVNC</a>) with a Neutral and lowers the price target from $9 to $8.

RVNC

Goldman Sachs Maintains Neutral on Revance Therapeutics, Lowers Price Target to $8

Goldman Sachs analyst Gabriela Borges maintains Paycor HCM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYCR#NASDAQ">PYCR</a>) with a Neutral and lowers the price target from $22 to $19.

PYCR

Goldman Sachs Maintains Neutral on Paycor HCM, Lowers Price Target to $19

Goldman Sachs analyst Stephen Laws maintains iHeartMedia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IHRT#NASDAQ">IHRT</a>) with a Neutral and lowers the price target from $2 to $1.

IHRT

Goldman Sachs Maintains Neutral on iHeartMedia, Lowers Price Target to $1

Needham analyst Mike Matson reiterates Lucid Diagnostics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUCD#NASDAQ">LUCD</a>) with a Buy and maintains $2.5 price target.

Reiteration

LUCD

Needham Reiterates Buy on Lucid Diagnostics, Maintains $2.5 Price Target

Goldman Sachs analyst Corinne Jenkins maintains IDEAYA Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDYA#NASDAQ">IDYA</a>) with a Buy and lowers the price target from $53 to $46.

IDYA

Goldman Sachs Maintains Buy on IDEAYA Biosciences, Lowers Price Target to $46

Goldman Sachs analyst Eric Sheridan maintains Fiverr Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FVRR#NYSE">FVRR</a>) with a Buy and raises the price target from $39 to $44.

FVRR

Goldman Sachs Maintains Buy on Fiverr Intl, Raises Price Target to $44

Goldman Sachs analyst Noah Poponak maintains Ducommun (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCO#NYSE">DCO</a>) with a Neutral and raises the price target from $57 to $64.

Goldman Sachs Maintains Neutral on Ducommun, Raises Price Target to $64

Goldman Sachs analyst Kevin Kumar maintains Docebo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCBO#NASDAQ">DCBO</a>) with a Neutral and lowers the price target from $55 to $48.

DCBO

Goldman Sachs Maintains Neutral on Docebo, Lowers Price Target to $48

Trinity Biotech plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRIB#NASDAQ">TRIB</a>) a commercial stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors, today announced that it has received substantial additional orders for TrinScreen HIV, bringing total orders received to date for supply in 2024 to approximately $6 million. &nbsp;
The Company has successfully scaled up production to meet the increased demand for its rapid HIV tests.
As a result of this strong momentum in demand and the successful scaling of production capacity, the Company has increased its expected 2024 sales revenue for TrinScreen HIV to over $8 million.

Guidance

Contracts

TRIB

Trinity Biotech Receives Increased Orders For TrinScreen HIV, Total Orders Received To Date For Supply In 2024 To ~$6M; Increased Its Expected 2024 Sales Revenue For TrinScreen HIV To Over $8M

WIIM

Vroom shares are trading lower. The company reported Q1 financial results.

FundCanna, a provider of capital to the cannabis sector, has teamed up with Dama Business Solutions.
<h3 class="wp-block-heading">Why It Matters</h3>
The new partnership, which will benefit both cannabis operators and financial institutions that serve them, provides expanded access to capital and compliant banking and lending solutions to cannabis businesses, FundCanna officials said on Monday.
See also: <a href="https://www.benzinga.com/markets/cannabis/23/03/31246982/cannabis-business-in-trouble-learn-about-accessing-capital-get-back-on-track-with-canaccord">Cannabis Business In Trouble? Learn About Accessing Capital, Get Back On Track With Canacco</a><a href="https://www.benzinga.com/markets/cannabis/23/03/31246982/cannabis-business-in-trouble-learn-about-accessing-capital-get-back-on-track-with-canaccord">rd</a>
Dama is one of the cannabis industry&#8217;s providers of access to banking and financial services, powering safe and secure depository solutions for licensed cannabis operators, as well as providing access to electronic consumer payment solutions.
"Banking and access to liquidity is a basic requirement. Our partnership with Dama gives their clients access to the required solutions for both their capital and banking needs in one unified solution," Adam Stettner, founder and CEO of FundCanna said.
He explained that the average FundCanna client has grown 54% in less than a year of collaboration.
"We are bringing our suite of funding products to unlock growth for Dama's clients with an integrated solution," Stettner continued. "Together, we will empower cannabis companies to achieve their financial and business goals."
<h3 class="wp-block-heading">Cannabis Needs More Investments</h3>
Access to capital has been a challenge for businesses operating in the cannabis industry since its inception.
Morgan Paxhia, a co-founder and managing director at Poseidon Investment Management told the audience at the April Benzinga Cannabis Capital Conference in Florida that the space needs "to see good investments being made, entrepreneurs being realistic about the valuations and building good companies… and not being afraid to hit the bit.&#8221;
The 19th Benzinga Cannabis Capital Conference is returning to Chicago this Oct. 8-9. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
Now read: <a href="https://www.benzinga.com/markets/cannabis/22/09/28868422/fundcanna-partners-with-payqwick-to-support-the-cannabis-industry-with-fast-simple-access-to-cap">FundCanna Partners With PayQwick To Support</a><a href="https://www.benzinga.com/markets/cannabis/22/09/28868422/fundcanna-partners-with-payqwick-to-support-the-cannabis-industry-with-fast-simple-access-to-cap"> The Cannabis Industry With &#8216;Fast, Simple Access To Capital&#8217;</a>

Cannabis Businesses Have More Access To Capital Via New FundCanna & Dama Partnership

Goldman Sachs analyst Mark Delaney maintains Cerence (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRNC#NASDAQ">CRNC</a>) with a Neutral and lowers the price target from $19 to $6.

CRNC

Goldman Sachs Maintains Neutral on Cerence, Lowers Price Target to $6

INTC

Intel shares are trading higher following a report suggesting the company is nearing a deal with Apollo to support a new chip plant in Ireland.

JMP Securities analyst David Scharf reiterates Oportun Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPRT#NASDAQ">OPRT</a>) with a Market Perform.

OPRT

JMP Securities Reiterates Market Perform on Oportun Financial

Goldman Sachs analyst Matthew Sykes maintains CareDx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNA#NASDAQ">CDNA</a>) with a Buy and raises the price target from $10 to $14.

CDNA

Goldman Sachs Maintains Buy on CareDx, Raises Price Target to $14

Scotiabank analyst Ben Isaacson maintains Western Forest Products (TSX:<a class="ticker" href="https://www.benzinga.com/stock/WEF#TSX">WEF</a>) with a Sector Perform and lowers the price target from C$0.75 to C$0.65.

TSX:WEF

Scotiabank Maintains Sector Perform on Western Forest Products, Lowers Price Target to C$0.65

In our January 2024 outlook, we asserted that cannabis equity analysts, having been burned by the need for continual downward revisions in 2023, were undershooting in their 2024 &amp; 2025 estimates. First quarter results are now in for ten major MSOs, and the results lend credence to our claims.
<img alt="untitled_design_-_2024-05-13t123753.355.png" src="https://www.benzinga.com/files/images/2024/May/13/untitled_design_-_2024-05-13t123753.355.png" style="height:458px; width:624px" />
The chart depicts the percentage beat (miss) for revenues and EBITDA for Q1&rsquo;24 and the subsequent percentage revision to consensus 2024 EBITDA estimates. The chart is organized in order of increasing percentage Q1 EBITDA beats.
The blue line on the chart shows the percentage revenue beat (miss). Four of the companies missed their estimates by amounts that ranged from -.09% for Curaleaf to -3.24% for Cannabist. The group, in the aggregate, beat estimates by about 1.4%.
EBITDA beats, shown by the orange line, were more significant. Three companies missed estimates, with the biggest miss from MariMed (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mrmd#OTC">MRMD</a>) (off by 10%). The beats were generally more substantial, with TerrAscend (OTC: <a class="ticker" href="https://www.benzinga.com/stock/trssf#OTC">TRSSF</a>), Ascend, and Green Thumb turning in results that were over 5% better than estimates. Jushi, Goodness Growth, and Trulieve all beat EBITDA estimates by more than 25%. The group, in the aggregate, beat EBITDA estimates by $37M (9.47%).
The most significant driver of increased EBITDA was higher margins. Eight of the ten companies beat EBITDA margin estimates.
Although the group EBITDA beat estimates by $37M, full-year EBITDA estimates have only been increased by $14M. Consensus 2024 estimates have actually been cut for six of the ten companies over the last month! Furthermore, full-year margins for the group are now projected to be 25.96%, lower than the 26.65% actual for the first quarter. The first quarter is seasonally the weakest quarter and first quarter margins have been lower that full-year margins for the last two years.&nbsp;&nbsp;
Analysts are again playing catch up, but thankfully, this time in the upward direction.
The Viridian Capital Chart of the Week highlights key investment, valuation and M&amp;A trends taken from the Viridian Cannabis Deal Tracker.
The <a href="https://viridianca.us1.list-manage.com/track/click?u=078ead34a8bbcfd77b0486326&amp;id=c89a19f9ee&amp;e=2699f9b787">Viridian Cannabis Deal Tracker</a> provides the market intelligence that cannabis companies, investors, and acquirers utilize to make informed decisions regarding capital allocation and M&amp;A strategy. The Deal Tracker is a proprietary information service that monitors capital raise and M&amp;A activity in the legal cannabis, CBD, and psychedelics industries. Each week the Tracker aggregates and analyzes all closed deals and segments each according to key metrics:
<ul>
<li>
Deals by Industry Sector (To track the flow of capital and M&amp;A Deals by one of 12 Sectors - from Cultivation to Brands to Software)
</li>
<li>
Deal Structure (Equity/Debt for Capital Raises, Cash/Stock/Earnout for M&amp;A) Status of the company announcing the transaction (Public vs. Private)
</li>
<li>
Principals to the Transaction (Issuer/Investor/Lender/Acquirer) Key deal terms (Pricing and Valuation)
</li>
<li>
Key Deal Terms (Deal Size, Valuation, Pricing, Warrants, Cost of Capital)
</li>
<li>
Deals by Location of Issuer/Buyer/Seller (To Track the Flow of Capital and M&amp;A Deals by State and Country)
</li>
<li>
Credit Ratings (Leverage and Liquidity Ratios)
</li>
</ul>
Since its inception in 2015, the Viridian Cannabis Deal Tracker has tracked and analyzed more than 2,500 capital raises and 1,000 M&amp;A transactions totaling over $50 billion in aggregate value.
The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

MRMD

TRSSF

Cannabis Chart Of The Week: Analysts React Meekly To Strong Q1'24 Earnings

JMP Securities analyst Silvan Tuerkcan reiterates Vor Biopharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VOR#NASDAQ">VOR</a>) with a Market Outperform and maintains $12 price target.