Zacks: Neptune Wellness Solutions Inc (NASDAQ:NEPT) Receives Average Rating of “Buy” from Analysts

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Shares of Neptune Wellness Solutions Inc (NASDAQ:NEPT) (TSE:NTB) have been assigned an average broker rating score of 1.50 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy rating and one has assigned a strong buy rating to the company.

Brokers have set a twelve-month consensus target price of $7.22 for the company and are anticipating that the company will post ($0.02) EPS for the current quarter, according to Zacks. Zacks has also given Neptune Wellness Solutions an industry rank of 70 out of 256 based on the ratings given to related companies.

A number of research firms recently weighed in on NEPT. BidaskClub downgraded shares of Neptune Wellness Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research raised shares of Neptune Wellness Solutions from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a research note on Wednesday. Finally, Echelon Wealth Partners reissued a “buy” rating on shares of Neptune Wellness Solutions in a research note on Wednesday, July 24th.

Shares of NEPT stock traded down $0.35 during trading hours on Thursday, reaching $4.47. 1,309,101 shares of the company were exchanged, compared to its average volume of 966,759. Neptune Wellness Solutions has a fifty-two week low of $2.42 and a fifty-two week high of $6.57. The business has a fifty day moving average price of $5.11. The firm has a market cap of $445.61 million, a P/E ratio of -32.21 and a beta of 1.67.

Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) last announced its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.03). Neptune Wellness Solutions had a negative return on equity of 19.34% and a negative net margin of 94.47%. The company had revenue of $3.26 million for the quarter, compared to analyst estimates of $4.51 million. On average, analysts anticipate that Neptune Wellness Solutions will post 0.03 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its stake in shares of Neptune Wellness Solutions by 265.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,929 shares of the biotechnology company’s stock worth $43,000 after buying an additional 7,214 shares during the last quarter. CIBC World Markets Inc. bought a new stake in shares of Neptune Wellness Solutions during the first quarter worth approximately $63,000. Wells Fargo & Company MN raised its stake in shares of Neptune Wellness Solutions by 19.4% during the second quarter. Wells Fargo & Company MN now owns 15,362 shares of the biotechnology company’s stock worth $67,000 after buying an additional 2,500 shares during the last quarter. Signition LP bought a new stake in shares of Neptune Wellness Solutions during the second quarter worth approximately $87,000. Finally, Jane Street Group LLC raised its stake in shares of Neptune Wellness Solutions by 45.9% during the second quarter. Jane Street Group LLC now owns 22,598 shares of the biotechnology company’s stock worth $98,000 after buying an additional 7,106 shares during the last quarter. 12.22% of the stock is owned by institutional investors and hedge funds.

Neptune Wellness Solutions Company Profile

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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