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The latest update is out from MediPharm Labs ( (TSE:LABS) ).
MediPharm Labs announced changes to its Board of Directors, with Shelley Potts stepping down and Michael Bumby rejoining the board. Bumby’s extensive experience in finance and governance, particularly in the cannabis and pharmaceutical sectors, is expected to support MediPharm’s strategic priorities and advancement in pharmaceutical cannabinoids. This move is significant for the company as it continues to strengthen its position in the cannabinoid industry, following its acquisition of VIVO Cannabis Inc. in 2023, which expanded its reach in Canada, Australia, and Germany.
The most recent analyst rating on (TSE:LABS) stock is a Hold with a C$0.06 price target. To see the full list of analyst forecasts on MediPharm Labs stock, see the TSE:LABS Stock Forecast page.
Spark’s Take on TSE:LABS Stock
According to Spark, TipRanks’ AI Analyst, TSE:LABS is a Neutral.
MediPharm Labs’ overall score is driven by its financial performance challenges, including profitability and cash flow issues. However, positive corporate events, such as international expansion and legal victories, provide some optimism. The technical analysis suggests a bearish trend, and valuation metrics indicate current unprofitability.
To see Spark’s full report on TSE:LABS stock, click here.
More about MediPharm Labs
MediPharm Labs, founded in 2015, is a pharmaceutical company that specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients, and advanced derivative products. The company operates a Good Manufacturing Practices certified facility and distributes cannabinoid-based products to domestic and international medical markets. In 2021, MediPharm Labs became the only company in North America to hold a commercial-scale domestic GMP License for the extraction of multiple natural cannabinoids.
Average Trading Volume: 356,827
Technical Sentiment Signal: Sell
Current Market Cap: C$27.35M
Find detailed analytics on LABS stock on TipRanks’ Stock Analysis page.