5 Cannabis Stocks Wall Street Predicts Will Skyrocket

: GNLN | Greenlane Holdings, Inc. - News, Ratings, and Charts

GNLN – The cannabis industry has been attracting significant investor attention lately due to heightened demand for cannabis for remedies for several diseases and for recreational use. Furthermore, the overall cannabis market is poised to grow following the legalization of marijuana worldwide. Therefore, Wall Street Analysts expect fundamentally sound cannabis stocks Greenlane (GNLN), Cara Therapeutics (CARA), Flora Growth (FLGC), Corbus Pharmaceuticals (CRBP), and Verano Holdings Corp. (VRNOF) to skyrocket in price in the coming months. So, let’s discuss these names.

According to a report by New Frontier Data, which analyses the current cannabis economy in the United States, the factors driving the bullish market for cannabis are strong consumer demand, an increase in newly operational legal state markets in recent years, the normalization of cannabis consumption, and increasing societal recognition of marijuana’s therapeutic and wellness applications.

In addition, given the bill passed by the House of Representatives on Friday that could legalize marijuana nationwide, the demand for cannabis is expected to soar. According to cannabis data experts at BDSA Analytics, global cannabis sales will reach $35 billion in 2022, an increase of 22% from 2021.

Given this backdrop, Wall Street analysts expect fundamentally sound cannabis stocks Greenlane Holdings, Inc. (GNLN - Get Rating), Cara Therapeutics, Inc. (CARA - Get Rating), Flora Growth Corp. (FLGC - Get Rating), Corbus Pharmaceuticals Holdings, Inc. (CRBP - Get Rating), and Verano Holdings Corp. (VRNOF - Get Rating) to deliver significant upside in the coming months.

Greenlane Holdings, Inc. (GNLN - Get Rating)

GNLN in Boca Raton, Fla., develops and distributes cannabis accessories, child-resistant packaging, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates through two segments: Consumer Goods and Industrial Goods. The company provides consumption accessories, vaporizers, pipes, rolling papers and packaging, and other smoking and vaporization-related accessories and merchandise.

GNLN’s net sales increased 54.4% year-over-year to $56.02 million during the fourth quarter, ending Dec. 31, 2021. Its gross profit grew 102.7% from its year-ago value to $12.47 million. And the company’s cash and cash equivalent stood at $12.86 million during its fiscal year ending Dec. 31, 2021.

The $51.69 million consensus revenue estimate for the first quarter, ending March 31, 2022, represents a 52% year-over-year improvement. In addition, GNLN has an impressive earnings history; it surpassed the consensus EPS estimate in three of the trailing four quarters.

All three Wall Street Analysts that rated the stock rated it Buy. The 12-month median price target of $2.33 represents a 389.6% potential upside. The price targets range from a low of $2.00 to a high of $3.00. The stock closed its last trading session at $0.48.

Cara Therapeutics, Inc. (CARA - Get Rating)

CARA is an early commercial-stage biopharmaceutical company that emphasizes developing and commercializing chemical entities, focusing primarily on pruritus and pain by selectively targeting kappa opioid receptors in the United States. The Shelton, Conn.-based company is also developing product candidates that target the body’s peripheral nervous system and immune cells.

Last month, CARA reported that data from a sub-study of the KARE Phase 2 clinical trial demonstrated that Oral KORSUVA (difelikefalin) improved itch and inflammatory biomarkers in atopic dermatitis (AD) patients with moderate-to-severe pruritus. The biomarker data were displayed during the Late-Breaking Research: Clinical Trials session at the 2022 American Academy of Dermatology (AAD) Annual Meeting.

In February, CARA announced that the European Medicines Agency’s (EMA) CHMP had recommended approval of Kapruvia (difelikefalin) to treat moderate-to-severe pruritus associated with chronic kidney disease in hemodialysis patients. The CHMP opinion is the base for the European Commission’s final decision regarding marketing authorization for Kapruvia®. If Kapruvia® is approved, it will be the first therapy available in Europe for the treatment of chronic kidney disease-associated pruritus (CKD-aP) in hemodialysis patients.

During the fourth quarter,  ended Dec. 31, 2021, CARA’s total revenue amounted to $0.82 million. Its cash and cash equivalent stood at $13.45 million during its  fiscal year ending Dec. 31, 2021.

Analysts expect CARA’s revenue to be  $2.26 million for the first quarter, ending March 31, 2022, indicating 16.8% year-over-year growth. Furthermore, the company’s shares have surged 4.5% in price year-to-date and 19% over the past month.

The four Wall Street Analysts that rated the stock rated it Buy. Closing its last trading session at $12.73, the 12-month median price target of $26.00 represents a 104.2% potential upside. The price targets range from a low of $19.00 to a high of $30.00.

Flora Growth Corp. (FLGC - Get Rating)

Headquartered in Toronto, Canada, FLGC is a cannabis company that cultivates, processes, and supplies cannabis products to pharmacies, medical clinics, and cosmetic companies worldwide. It cultivates, processes, and supplies medicinal-grade cannabis oil and cannabis oil extracts and related products; manufactures and sells skin care and beauty products; manufactures dermo-cosmetic products; and develops and sells pharmaceuticals.

Last month, FLGC announced that its brand JustCBD has partnered with German company Greenyard to open brick-and-mortar stores across Germany and the Czech Republic. In addition to opening brick-and-mortar stores, JustCBD products will be distributed by Greenyard throughout Germany, the Czech Republic, Poland, Austria, Switzerland, Ukraine, Georgia, and Estonia.

Also, last month, FLGC announced that it had signed a distribution agreement with Israel-based DNO Group to distribute the Mind Naturals brand in the Hong Kong region. DNO Group is one of the largest distributors of global independent brands and has more than 50,000 points of sale throughout Asia and its broader global reach. Under the agreement, Flora will collaborate with DNO to identify growth opportunities and bring the Mind Naturals brand to market in new territories using an omnichannel approach, including brick and mortar retail, e-commerce, and other wholesale markets.

FLGC’s trailing 12-month total revenue amounted to $2.22 million, while its trailing-12-months gross profit came in at $1.08 million.

The stock has gained 2.8% in price year-to-date and 2.2% over the past three months. Closing its last trading session at $1.83, the 12-month price target of $11.50 indicates a potential upside of 528.4%.

Corbus Pharmaceuticals Holdings, Inc. (CRBP - Get Rating)

CRBP is a biopharmaceutical company that emphasizes the development of immune modulators for immuno-oncology and fibrosis diseases. It develops lenabasum, an oral molecule that selectively activates cannabinoid receptor type 2 (CB2), which is in Phase II clinical trials to treat systemic lupus erythematosus; CRB-601, an anti-integrin monoclonal antibody (mAb) for the treatment of cancer and fibrosis that inhibits the activation of transforming growth factor ß (TGFß); and CRB-602, an anti-avß6/avß8 mAb that blocks the activation of TGFß for the treatment of fibrotic diseases. CRBP is based in Norwood, Mass.

For the fourth quarter, ending Dec. 31, 2021, CBRP’s other income stood at $0.11 million, while its operating expenses declined 52% from its year-ago value to approximately $10 million. Its cash and cash equivalents stood at $25 million for its fiscal year ending Dec. 31, 2021.

The company’s revenue is expected to increase 1499.8% year-over-year to $5.26 million in its fiscal year 2023. The stock has surged 30.7% in price over the past month.

Of the two Wall Street Analysts that rated the stock, one rated it Buy, and one rated it Hold. Closing its last trading session at $0.44, the 12-month median price target of $3.00 represents a 580% potential upside.

Verano Holdings Corp. (VRNOF - Get Rating)

Chicago’s VRNOF functions as a vertically-integrated multi-state cannabis operator in the United States. It is engaged in the cultivation, processing, and retail license of cannabis in Illinois, Florida, Arizona, Maryland, Nevada, Ohio, Michigan, Massachusetts, Arkansas, New Jersey, Pennsylvania, and West Virginia. During the third quarter, ending Sept. 30, 2021, VRNOF’s revenue increased 105.7% year-over-year to $206.83 million. Its income from operations amounted to $186.51 million, up 79% from its prior-year quarter, whereas its net income grew 27.1% from its year-ago value to $103.72 million.

The company’s EPS is expected to increase 36.3% year-over-year to $0.14 for the first quarter, ending March 31, 2022. Analysts expect VRNOF’s revenue to increase 86.6% year-over-year to $225.61 million for the same period.

The five Wall Street Analysts that rated the stock rated it Buy. The 12-month median price target of $30.1 represents a 234.7% potential upside. The price targets range from a low of $24.02 to a high of $38.44. The stock closed its last trading session at $9.00.

Want More Great Investing Ideas?

3 Stocks to DOUBLE This Year


GNLN shares were trading at $0.46 per share on Thursday morning, down $0.02 (-3.97%). Year-to-date, GNLN has declined -52.29%, versus a -6.24% rise in the benchmark S&P 500 index during the same period.


About the Author: Spandan Khandelwal


Spandan's is a financial journalist and investment analyst focused on the stock market. With her ability to interpret financial data, she aims to help investors evaluate the fundamentals of a company before investing. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
GNLNGet RatingGet RatingGet Rating
CARAGet RatingGet RatingGet Rating
FLGCGet RatingGet RatingGet Rating
CRBPGet RatingGet RatingGet Rating
VRNOFGet RatingGet RatingGet Rating

Most Popular Stories on StockNews.com


Investors in “Wait and See” Mode

Have you noticed that the S&P 500 (SPY) has been trading in a tight trading range of only 6,000 to 6,100 the past few weeks? Steve Reitmeister shares why this is happening along with a game plan for being on the right side of the market action. Read on for the full story...

3 High-Growth SaaS Companies to Watch

The SAAS industry is positioned for continued expansion, owing to the continuous advancements in AI and cloud computing, along with surging global demand. Thus, it could be wise to add high-growth SaaS stocks Twilio (TWLO), Informatica (INFA), and DocuSign (DOCU) to your watchlists. Continue reading…

3 Used Car Stocks Benefiting from High Auto Prices

As rising costs push more buyers toward affordable alternatives, the used car market is seeing strong momentum. Given this backdrop, we think it could be wise to scoop up the shares of fundamentally sound used car stocks Carvana Co. (CVNA), CarGurus, Inc. (CARG), and Cars.com Inc. (CARS). Read more…

3 Airline Stocks Ready for Takeoff as Travel Demand Soars

Global travel is rising, and airline stocks are primed for a major rally. Therefore, to capitalize on this compelling opportunity, investors could consider adding three solid airline stocks, American Airlines Group (AAL), SkyWest (SKYW), and United Airlines Holdings (UAL), to their portfolios. Read more…

Stock Market Alert: History Repeating Itself?

The last time we played around with tariffs was back in 2018 when we started a trade war with China. To say the least that was very negative for stocks as the S&P 500 (SPY) tanked the second half of the year. We need to learn from those history lessons to chart our course for investing in 2025. Read on for more...

Read More Stories

More Greenlane Holdings, Inc. - (GNLN) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All GNLN News