|Over a month ago|
Charlotte's Web initiated with an Outperform at Cowen » 05:5606/1206/12/20
Cowen analyst Gerald…
Cowen analyst Gerald Pascarelli initiated coverage of Charlotte's Web with an Outperform rating and $7 price target.
Rising High: HEXO Q3 net revenue increases 30% sequentially to C$22.1M » 10:4506/1106/11/20
HEXO, OGI, CWBHF, ABAHF, SHWZ, CGC, APHA, ACV, CVSI, CTST, CRON, CANN, IGC, TLRY, TCNNF, ZYNE
In this week's "Rising…
Charlotte's Web acquires Abacus Health Products » 10:1806/1106/11/20
Charlotte's Web Holdings (CWBHF) and Abacus Health Products (ABAHF) announced that they have completed the previously-announced plan of arrangement. Pursuant to the Arrangement, Charlotte's Web acquired all the issued and outstanding subordinate voting shares of Abacus. All the outstanding proportionate voting shares of Abacus were converted into Abacus Shares prior to closing of the Arrangement. Pursuant to the Arrangement, holders of Abacus Shares received 0.85 of a common share of Charlotte's Web for each Abacus Share held at the time of closing. Combined, the companies distribute to more than 21,000 unique retail locations with limited shelf overlap due to adjacent but complementary positions across the ingestible and topical CBD product categories. Recently Charlotte's Web added 1,100 new drug stores, more than 700 pet stores, and Abacus added more than 5,000 retail doors with the signing of a new retail partner. Joining the Charlotte's Web family of brands are Abacus' consumer brands CBD MEDIC and Harmony Hemp, and for professional practitioners, Abacus' CBD CLINIC brand. Substantial product cross selling opportunities are available through each company's respective distribution network. Starting in July, multiple Abacus topical products will be available for purchase through Charlotte's Web's leading Direct to the Consumer ecommerce platform. Perry Antelman has been the CEO of Abacus since 2016 and will join Charlotte's Web as EVP and President of Topicals. Following the closing of this acquisition, on June 11, 2020, Charlotte's Web has 90,287,520 Common Shares outstanding and 92,455.5775 Proportionate Voting Shares convertible at 400:1, for an effective equivalent of 127,269,751 aggregate Common Shares outstanding.
Charlotte's Web earns U.S. utility patent for hemp variety » 10:3105/2005/20/20
Charlotte's Web has…
Charlotte's Web has earned U.S. utility patent U.S. 10,653,085, its second U.S. patent for hemp genetics. This patent is for 'CW1AS1', a new hemp variety created by company co-founder Joel Stanley and Sr. Director of Cultivation R&D Bear Reel.
|Over a quarter ago|
Charlotte's Web price target lowered to C$10 from C$17 at Canaccord » 11:0103/2303/23/20
Canaccord analyst Derek…
Canaccord analyst Derek Dley lowered the firm's price target on Charlotte's Web to C$10 from C$17 and keeps a Buy rating on the shares, ahead of the company's earnings report scheduled for March 24.
Charlotte's Web price target lowered to $7 from $11.70 at Cantor Fitzgerald » 07:1303/0903/09/20
Cantor Fitzgerald analyst…
Cantor Fitzgerald analyst Pablo Zuanic lowered the firm's price target on Charlotte's Web to $7 from $11.70 and keeps a Neutral rating on the shares. The continued lack of clear guidelines for cannabidiol from the FDA limits the scope for new distribution gains in the food, drug and mass channel, while increased hemp supplies further "clog the specialty channel with a slew of new brands," Zuanic tells investors in a research note.
Compass Point starts Charlotte's Web at Buy with $12 price target » 08:2912/0912/09/19
As previously reported,…
As previously reported, Compass Point analyst Rommel Dionisio initiated coverage of Charlotte's Web with a Buy rating and $12 price target. A longer than expected delay in the U.S. FDA issuing regulatory guidelines for the introduction of CBD-infused edibles and beverages has pressured shares, but he sees Charlotte's Web being the best positioned company to benefit from what should be significant growth in the CBD industry for many years to come given position as a pure play with the number one brand of cannabidiol infused products in the U.S.
Charlotte's Web initiated with a Buy at Compass Point » 05:3412/0912/09/19
Compass Point initiated…
Compass Point initiated coverage of Charlotte's Web Holdings with a Buy rating and C$15.91 price target.
Cantor Fitzgerald expects industry consolidation in consumer CBD wellness trend » 19:1111/0711/07/19
YCBD, CWBHF, CVSI
Cantor Fitzgerald analyst…
Cantor Fitzgerald analyst Pablo Zuanic initiated CV Sciences (CVSI) with an Overweight rating, price target of $4.20 along with Charlotte's Web (CWBHF) and cbdMD (YCBD) at Neutral with respective price targets of $14.50 and $3.40 as part of his broader sector note on Consumer CBD. The analyst says the industry has risen 6-times in two years, reaching $4B in retail sales, and may reach as high as $25B over the next 5 years. Zuanic contends that while it is currently fragmented, the greater adoption of CBD products at big box retailers will likely lead to industry consolidation, helping the more established brands. In the short term however, the analyst still points to the lack of clear FDA guidelines on CBD sales, adding that near term catalysts on the industry are "to the downside".
Charlotte's Web initiated with a Neutral at Cantor Fitzgerald » 16:1711/0711/07/19
Cantor Fitzgerald analyst…
Cantor Fitzgerald analyst Pablo Zuanic initiated coverage of Charlotte's Web with a Neutral rating and $14.50 price target.