Zacks: Neptune Wellness Solutions Inc (NASDAQ:NEPT) Receives Consensus Recommendation of “Buy” from Brokerages

Neptune Wellness Solutions Inc (NASDAQ:NEPT) (TSE:NTB) has been given a consensus broker rating score of 1.50 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy rating and one has assigned a strong buy rating to the company. Neptune Wellness Solutions’ rating score has declined by 50% in the last three months as a result of various analysts’ ratings changes.

Analysts have set a 12-month consensus target price of $6.34 for the company and are predicting that the company will post ($0.03) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Neptune Wellness Solutions an industry rank of 97 out of 256 based on the ratings given to related companies.

Several equities research analysts have recently issued reports on NEPT shares. Zacks Investment Research cut Neptune Wellness Solutions from a “hold” rating to a “sell” rating in a report on Tuesday, June 11th. BidaskClub upgraded Neptune Wellness Solutions from a “hold” rating to a “buy” rating in a report on Thursday, May 9th.

Institutional investors have recently modified their holdings of the stock. CIBC World Markets Inc. acquired a new position in Neptune Wellness Solutions in the first quarter valued at $63,000. Alpine Group USVI LLC acquired a new position in Neptune Wellness Solutions in the first quarter valued at $303,000. Two Sigma Advisers LP acquired a new position in Neptune Wellness Solutions in the fourth quarter valued at $367,000. Finally, Deutsche Bank AG boosted its holdings in Neptune Wellness Solutions by 245.9% in the fourth quarter. Deutsche Bank AG now owns 517,135 shares of the biotechnology company’s stock valued at $1,313,000 after acquiring an additional 367,614 shares during the last quarter. Hedge funds and other institutional investors own 13.97% of the company’s stock.

Neptune Wellness Solutions stock traded down $0.11 during mid-day trading on Friday, hitting $4.35. 502,559 shares of the company were exchanged, compared to its average volume of 1,542,555. The firm has a 50 day moving average price of $4.24. The firm has a market cap of $353.77 million, a P/E ratio of -31.07 and a beta of 1.81. Neptune Wellness Solutions has a 12-month low of $2.42 and a 12-month high of $5.22.

About Neptune Wellness Solutions

Neptune Wellness Solutions Inc, a health and wellness products company, specializes in the extraction, purification and formulation of cannabis products, as well as other specialty ingredients, such as MaxSimil, a patented ingredient that enhances the absorption of lipid-based nutraceuticals, and various other marine and seed oils.

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