Zacks Investment Research upgraded shares of Aphria (NYSE:APHA) from a hold rating to a strong-buy rating in a research report released on Wednesday morning, Zacks.com reports. They currently have $7.00 target price on the stock.

According to Zacks, “Aphria Inc. produces, supplies and sells medical cannabis primarily in Canada. The company offers sativa, indica and hybrid medical marijuana products, as well as cannabis oils. Aphria Inc. is headquartered in Leamington, Canada. “

Other equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald boosted their price objective on shares of Aphria from $10.50 to $11.00 and gave the company an overweight rating in a research report on Monday, July 27th. Eight Capital raised shares of Aphria to a buy rating in a research report on Thursday, April 16th. Bank of America lifted their target price on shares of Aphria from $5.00 to $7.00 and gave the company a buy rating in a research note on Thursday, April 16th. CIBC lifted their target price on shares of Aphria from $6.00 to $7.00 and gave the company a neutral rating in a research note on Thursday, April 16th. Finally, Alliance Global Partners restated a buy rating and set a $9.00 target price on shares of Aphria in a research note on Wednesday, July 15th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $8.60.

Shares of APHA stock opened at $4.78 on Wednesday. Aphria has a 1 year low of $1.95 and a 1 year high of $7.60. The firm has a fifty day moving average price of $4.60 and a 200-day moving average price of $4.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 5.19 and a quick ratio of 3.73. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 53.06 and a beta of 2.19.

A number of hedge funds have recently made changes to their positions in the business. Wedbush Securities Inc. lifted its stake in Aphria by 8.9% in the 2nd quarter. Wedbush Securities Inc. now owns 24,738 shares of the company’s stock worth $106,000 after purchasing an additional 2,031 shares in the last quarter. BerganKDV Wealth Management LLC lifted its stake in Aphria by 32.0% in the 1st quarter. BerganKDV Wealth Management LLC now owns 11,950 shares of the company’s stock worth $36,000 after purchasing an additional 2,900 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Aphria by 64.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,681 shares of the company’s stock worth $26,000 after purchasing an additional 3,392 shares in the last quarter. AE Wealth Management LLC lifted its stake in Aphria by 42.7% in the 1st quarter. AE Wealth Management LLC now owns 15,934 shares of the company’s stock worth $49,000 after purchasing an additional 4,770 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Aphria by 22.3% in the 1st quarter. Franklin Resources Inc. now owns 28,227 shares of the company’s stock worth $85,000 after purchasing an additional 5,141 shares in the last quarter. Institutional investors and hedge funds own 9.57% of the company’s stock.

About Aphria

Aphria Inc produces and sells medical cannabis in Canada and internationally. The company offers sativa, indica, and hybrid medical marijuana products, as well as cannabis oils. It serves patients and health professionals. The company also sells its products online. Aphria Inc is headquartered in Leamington, Canada.

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