Desjardins reaffirmed their buy rating on shares of Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) in a research note published on Wednesday, Zacks.com reports.

Several other equities analysts have also recently issued reports on NEPT. Echelon Wealth Partners reiterated a buy rating on shares of Neptune Wellness Solutions in a research report on Wednesday, July 24th. ValuEngine upgraded shares of Neptune Wellness Solutions from a hold rating to a buy rating in a research report on Thursday, September 19th. TheStreet cut shares of Neptune Wellness Solutions from a c- rating to a d+ rating in a report on Tuesday, October 15th. Zacks Investment Research cut shares of Neptune Wellness Solutions from a hold rating to a sell rating in a report on Wednesday, September 25th. Finally, BidaskClub cut shares of Neptune Wellness Solutions from a sell rating to a strong sell rating in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $5.50.

Neptune Wellness Solutions stock traded up $0.23 during mid-day trading on Wednesday, hitting $3.54. The company’s stock had a trading volume of 729,600 shares, compared to its average volume of 874,847. Neptune Wellness Solutions has a 12 month low of $2.42 and a 12 month high of $6.57. The business has a 50 day moving average price of $3.54 and a 200-day moving average price of $4.27. The stock has a market cap of $312.62 million, a price-to-earnings ratio of -25.29 and a beta of 1.86.

Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) last announced its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Neptune Wellness Solutions had a negative net margin of 107.62% and a negative return on equity of 23.18%. The company had revenue of $3.26 million for the quarter, compared to analysts’ expectations of $4.51 million.

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its stake in shares of Neptune Wellness Solutions by 265.7% in 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 in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Neptune Wellness Solutions by 19.4% in 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 in the last quarter. Royal Bank of Canada lifted its stake in shares of Neptune Wellness Solutions by 47.3% in the second quarter. Royal Bank of Canada now owns 15,948 shares of the biotechnology company’s stock worth $69,000 after buying an additional 5,121 shares in the last quarter. Signition LP bought a new position in shares of Neptune Wellness Solutions in the second quarter worth approximately $87,000. Finally, Jane Street Group LLC lifted its stake in shares of Neptune Wellness Solutions by 45.9% in 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 in the last quarter. Institutional investors and hedge funds own 11.84% of the company’s stock.

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.

Further Reading: What are the economic characteristics of a bear market?

Receive News & Ratings for Neptune Wellness Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neptune Wellness Solutions and related companies with MarketBeat.com's FREE daily email newsletter.