Cannabis stocks have come down from their recent highs and this has raised some concerns after we ended 2016 on a high note.
2016 was a great year for the cannabis industry and we expect 2017 to build off this success. From Canada to Australia, the United States to Germany, the global cannabis industry continued to expand and the stage is set for growth for years to come.
The recent weakness has led to an influx of questions pertaining to the top cannabis investment opportunities and we want to highlight 7 cannabis stocks that investors should watch during 2017.
Seven Cannabis Stocks to Watch
1. GW Pharmaceuticals (GWPH): We continue to view GWPH as the top long-term biotech investment levered to the cannabis industry and we expect to see a VERY STRONG second half of the year. We are favorable on the long-term outlook due to its deep pipeline of products in advanced stages of clinical trials, its strong balance sheet, and its favorable Wall Street coverage.
2. Zynerba Pharma (ZYNE): We consider the company to be one of the most undervalued biotech investment opportunities. Zynerba is focused on developing treatments from synthetic cannabis and the average Wall Street price target offers almost 100% upside to current levels.
3. Canopy Growth (WEED.TO) (TWMJF) continues to be the leader in the Canadian medical cannabis industry and view the company as one the best opportunities within the cannabis industry. The shares have been trending lower and we view this weakness as a great opportunity to buy into a high-quality cannabis producer with a global footprint.
4. Emblem Corp. (EMC.V) (EMMBF) has been trending so far this year and the shares are down 30% during this time. Despite the recent weakness, we are bullish on the company’s opportunity due to its attractive business model, its proven management team, its sound financial structure, its strong balance sheet, and its leverage to growth trends in the cannabis sector
5. After securing a potentially highly lucrative licensing contract, InMed Pharmaceuticals, (IN.CN) (IMLFF) looks even better positioned to benefit for positive tailwinds facing the global cannabis industry. InMed is a pre-clinical biopharmaceutical company that is focused on the research and development of novel and cannabinoid-based therapies in Canada. The company has a strong pipeline of products in various stages of FDA testing and is developing various drugs for diseases, such as ocular, pain and inflammation.
6. VPR Brands, LP, (VPRB) is a stock to watch as it is levered to several growth trends within the global cannabis industry. The shares have pulled back and we see upside to current levels. In 2016, VPR acquired Vapor Corp’s wholesale operations and assets for a significant discount and recent announcements show that VPR has executed on and monetized this acquisition. We view this as a very attractive growth story that is undervalued by the street.
7. Vinergy (VIN.CN) (VNNYF) has been one of the most interesting and exciting stories to watch over the last six months and we see significant upside to current levels. The shares have fallen more than 33% in the last month and we find them to be attractive due to the number of catalysts for growth over the next year.
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