Company News

BUZZ-Neptune Wellness Solutions falls on bigger Q4 loss

(Updates share movement)

** Shares of Canada-based nutrition products firm Neptune Wellness Solutions down 5.4% at C$6.17 after bigger loss; U.S.listed shares down 4.3% at $4.68

** Q4 net loss was C$12.4 mln versus C$4.8 mln a year earlier

** Revenue in qtr fell to C$5.7 mln from C$7.0 mln in the year-ago quarter

** Co expect cannabis extraction revenue for Q1 2020 to be lower than C$1 mln

** Brokerage GMP Securities says NEPT is positioned to be a leader in the North American cannabis industry, raises PT to C$7.50 from C$6.52

** Average rating by 2 analysts covering stock is “buy”; their median PT is C$7.75

** Toronto-listed shares up ~74% YTD (Reporting By Arundhati Sarkar in Bengaluru)