Best Marijuana Stocks 2021
Are you investing in top marijuana stocks and are looking for the best options right now? In September the cannabis sector has continued to see significant drops in market value. The area most hurt by this recent drop in value is vertically integrated cannabis stocks. Although US MSOs have been performing very well and delivering strong financials this has not translated into market gains.
On the other hand, the opposite has occurred, and these lower values could mainly be associated with federal cannabis legalization. Since November 2020 federal cannabis reform has been expected to happen earlier in 2021. Now nine months into the year and nothing has passed on Capitol Hill. For the most part, ancillary marijuana stocks have fared through the declines better than other areas of the cannabis sector.
For those not familiar with ancillary cannabis companies these are any companies that support the cannabis market and do not handle the actual marijuana plant. These companies provide support in many areas of the market as the cannabis industry grows. Another area of the cannabis market that could offer potential returns for investors is medical marijuana stocks. As the use of cannabis becomes accepted across the medical community this area of the market will also see substantial growth.
Investing In The Cannabis Industry Right Now
Investing in the cannabis sector requires some due diligence from the investor. Researching a company’s earnings and studying how the stock performs in the market can solidify the best returns for your investments. In Q4 these current market values may produce long-term gains for investors in the future. As we continue to see the top pot stocks drop in value it could be time to make a list of marijuana stocks to watch. As the cannabis industry grows so will the businesses that supply the necessary supplies to cultivate marijuana. Whether it’s hydroponic equipment, lighting, or organic nutrients for the plant more will be needed as demand grows.
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In addition, more doctors are beginning to prescribe cannabis-derived medicines for certain ailments. As this demand grows the medical cannabis companies could also see substantial revenue growth in the next five years. In the US some of these treatments are FDA approved and have approval in Europe. Let’s take a closer look at 2 top marijuana stocks for your list in mid-September.
Top Marijuana Stocks For Your List In September
- The Scotts Miracle-Gro Company (NYSE:SMG)
- Jazz Pharmaceuticals plc (NASDAQ:JAZZ)
The Scotts Miracle-Gro Company
At the present time, Scotts Miracle-Gro is one of the world’s largest marketers of branded consumer lawn and gardening products and has a hand in the cannabis market. Specifically, the company’s wholly-owned subsidiary Hawthorne Gardening is a leading supplier of nutrients, lighting, and hydroponic equipment used in the process of growing cannabis. In August the company announced its 3rd quarter financials and reaffirmed sales and earnings guidance for fiscal 2021.
To highlight, the company reported company-wide Q3 sales up 8% to $1.61 billion driven by Hawthorne‘s growth of 48%. Notably, Hawthorne sales increased to $421.9 million compared to $285.7 million. US consumer sales for Scott’s declined by 4% in the third quarter but remained 19% higher year to date. As a result, Scott’s saw company-wide sales increase to $4.19 billion up 29% for the first 9 months of fiscal 2021. In the third quarter, Scott’s acquired Hydrologic Purification Systems California-based accessories and provider of water filtration and purification products in the cannabis market.
SMG Stock Performance
SMG stock is trading at $144.65 on September 14th down 31.15% in the past six months. Currently, SMG stock has a 52-week price range of $143.06-$254.34 down 22.34% year to date. According to analysts at CNN Business SMG stock has a 12-month median price target of $260.00 per share. In essence, this would represent an increase of 59.40% from its current trading price of $144.50. At the present time, SMG stock offers a dividend yield of 1.7% which is an annual dividend of $2.64 per share.
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Jazz Pharmaceuticals plc
Jazz Pharmaceuticals plc is a biopharmaceutical company, that identifies, develops, and commercializes pharmaceutical products for various unmet medical needs in the United States, Europe, and globally. Specifically, the company has a portfolio of products with a focus in the areas of neuroscience, including sleep medicine and movement disorders. To highlight, In 2021 Jazz acquired a leading medical cannabis provider GW Pharmaceuticals which produces a leading cannabis-derived drug named EPIDIOLEX. Currently, Epidiolex is in use in the U.S and globally for the treatment of seizures associated with a variety of serious ailments. As of now, Epidiolex is one of the only drugs approved by the FDA in the U.S. and the European Union for medical use. In July Jazz announced the FDA has approved Rylaze a multi-agent chemotherapeutic regimen for lymphoblastic leukemia. 
In August Jazz reported its second-quarter 2021 results with 41% of net product sales coming from recently acquired products. Primarily Jazz saw Q2 total revenue increase to $751.8 million up 34% year over year. The company affirmed 2021 total revenue guidance at $3.02 billion to $3.18 billion. Currently, Jazz continues to be one of the top pharmaceuticals to invest in. In general, more hedge funds are beginning to find interest in the stock. In its latest earnings Jazz delivered quarterly earnings of $3.92 per share now with the addition of GW Pharm this number could increase significantly.
JAZZ Stock Performance
JAZZ stock is trading at $135.07 on September 14th down 5.12% in the last month. The stock has a 52-week price range of $130.55-$189.00 down 18.28% year to date. According to analysts at Tip Ranks JAZZ stock has a 12-month average price target of $219.22 per share. In this case, this would represent a gain of 62.30% from its current trading price of $135.07. In the cannabis sector, these could be some of the best cannabis stocks for list in 2021.
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