Marijuana Stocks That Trade on the NYSE and Nasdaq

Marijuana Stocks That Trade on the NYSE and Nasdaq
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Marijuana Stocks 2019

Marijuana stocks have taken North American markets by storm, with recreational marijuana becoming legal in Canada in October 2018. In 2019, there has been some movement in the U.S. when it comes to marijuana.

The passing of the 2018 Farm Bill removed hemp as a controlled substance, opening up the door to cannabidiol (CBD) sales. With recreational marijuana revenue from Canada adding to corporate profits, the addition of CBD sales in the U.S. will make 2019 an interesting year for marijuana stocks.

The vast majority of marijuana stocks trade in Canada and in the over-the-counter markets (OTCMKTS).

Canada is the hotbox of marijuana stocks because medical marijuana has been legal there since 2001. This has given Canadian producers 18 years to get their operations in order and listed on the Toronto Stock Exchange (TSE)—and more recently the Canadian Securities Exchange (CSE).

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That said, a growing number of marijuana players are listed on the New York Stock Exchange (NYSE) and the Nasdaq. In fact, whereas the Nasdaq is known for its tech holdings, the NYSE is becoming known as the destination for cannabis stocks.

In 2018, five heavy hitters began trading on either the NYSE or the Nasdaq: Cronos Group Inc (NASDAQ:CRON), Canopy Growth Corp (NYSE:CGC), Tilray Inc (NASDAQ:TLRY), Aurora Cannabis Inc (NYSE:ACB), and Aphria Inc (NYSE:APHA).

Marijuana stocks trading on the Nasdaq and NYSE has given the cannabis industry more visibility, coverage, investment, and legitimacy.

Below, you’ll find a list of the top, mostly pure-play cannabis companies trading on the NYSE and the Nasdaq.

Marijuana Stocks That Trade on the NYSE

NYSE Marijuana Stock List

Company NYSE Stock Ticker
22nd Century Group Inc XXII
Aphria Inc APHA
Aurora Cannabis Inc ACB
Canopy Growth Corp CGC
Hexo Corp HEXO
Innovative Industrial Properties Inc IIPR

22nd Century Group Inc

22nd Century Group Inc (NYSEAMERICAN:XXII) is a plant biotech company focused on genetically engineering and plant breeding. Its Botanical Genetics, LLC subsidiary is focused on natural and effective cannabis/hemp-based products for human health and nutrition. It also develops industrial products refined from cannabis/hemp. (Source: “About Us,” 22nd Century Group Inc, last accessed January 25, 2019.)

22nd Century Group Inc Financials
Market Cap $268.7 million
Forward Price/Earnings Ratio N/A
Beta 1.46
Price/Earnings to Growth Ratio N/A
Total Cash $62.1 million
Total Liabilities $679,660

(Sources: “22nd Century Files 2018 Third Quarter Report,” 22nd Century Group, November 7, 2018 and “22nd Century Group, Inc. (XXII),” Yahoo! Finance, last accessed January 25, 2019.)

Aphria Inc

Leamington, Ontario-based Aphria is a leading global cannabis company. By the end of 2019, it expects its annualized harvest to increase to 255,000 kilograms.  (Source: “Aphria Records 63% Net Revenue Growth in Fiscal 2019 Second Quarter; Announces Executive Team Transition,” Aphria Inc, January 11, 2019.)

This is a significant increase over the company’s current production capacity of 35,000 kilograms.

Aphria Inc Financials
Market Cap $1.8 billion
Forward Price/Earnings Ratio N/A
Beta 3.67
Price/Earnings to Growth Ratio N/A
Total Cash $152.1 million
Total Liabilities $51.2 million

(Sources: “Condensed Interim Consolidated Financial Statements For The Three Months And Six Months Ended November 30, 2018 and November 30, 2017,” Aphria Inc, last accessed January 25, 2019 and “Aphria Inc. (APHA),” Yahoo! Finance, last accessed January 25, 2019.)

Aurora Cannabis Inc

Aurora Cannabis Inc is one of the largest pure-play marijuana stocks in the world. The company’s current production capacity is around 100,000 kilograms per year, and it’s expected to hit 150,000 kilograms by the end of the first quarter of 2019.

Once Aurora Cannabis is at full capacity, it will produce more than 500,000 kilograms of cannabis. (Source: “Corporate Profile,” Aurora Cannabis Inc, last accessed January 25, 2019.)

Aurora Cannabis Inc Financials
Market Cap $6.7 billion
Forward Price/Earnings Ratio N/A
Beta 2.12
Price/Earnings to Growth Ratio N/A
Total Cash $147.8 million
Total Liabilities $552.4 million

(Sources: “Condensed Interim Consolidated Financial Statements For the three months ended September 30, 2018 and 2017,” Aurora Cannabis, ast accessed January 25, 2019 and “Aurora Cannabis Inc. (ACB),” Yahoo! Finance, last accessed January 25, 2019.)

Canopy Growth Corp

When it comes to market cap, Canopy Growth is the largest cannabis company in the world. It is also one of the largest when it comes to funded production capacity, at around 500,000 kilograms.

It currently has 4.3 million square feet of licensed capacity—with a stated objective of 5.6 million square feet. (Source: “Canopy Growth Corporation Reports Second Quarter Fiscal 2019 Financial Results,” Canopy Growth Corp, November 14, 2018.)

Canopy Growth Corp Financials
Market Cap $16.6 billion
Forward Price/Earnings Ratio N/A
Beta 2.51
Price/Earnings to Growth Ratio N/A
Total Cash $429.0 million
Total Liabilities $1.1 billion

(Sources: Ibid. and “Canopy Growth Corporation (CGC),” Yahoo! Finance, last accessed January 25, 2019.)

Hexo Corp

Based in Gatineau, Quebec, Hexo is one of Canada’s lowest-cost cannabis producers, with more than 310,000 square feet and an estimated annual production capacity of 25,000 kilograms. Another one million square feet of production space was expected to be completed at the end of 2018. (Source: “Management Discussion & Analysis For the three months ended October 31, 2018,” Hexo Corp, December 12, 2018.)

Hexo Corp Financials
Market Cap $1.1 billion
Forward Price/Earnings Ratio N/A
Beta N/A
Price/Earnings to Growth Ratio N/A
Total Cash $23.3 million
Total Liabilities $17.4 million (no long-term debt)

(Sources: Ibid. and “HEXO Corp. (HEXO),” Yahoo! Finance, last accessed January 25, 2019.)

Innovative Industrial Properties Inc

San-Diego-based Innovative Industrial Properties Inc (NYSE:IIPR) is a leading provider of real estate capital for the medical-use cannabis industry.

Founded in December 2016, IIPR is the first publicly traded company on the NYSE that provides real estate capital to the medical cannabis industry. (Source: “Our Business,” Innovative Industrial Properties Inc, last accessed January 25, 2019.)

Innovative Industrial Properties Inc Financials
Market Cap $569.2 million
Forward Price/Earnings Ratio 29.56
Beta 1.14
Price/Earnings to Growth Ratio N/A
Total Cash $53.0 million
Total Liabilities $15.1 million

(Sources: “Innovative Industrial Properties Reports Third Quarter 2018 Results,” Innovative Industrial Properties Inc, November 7, 2018 and “Innovative Industrial Properties, Inc. (IIPR),” Yahoo! Finance, last accessed January 25, 2019.)

Marijuana Stocks That Trade on the Nasdaq

Nasdaq Marijuana Stock List

Company Nasdaq Stock Ticker
Cronos Group Inc CRON
GW Pharmaceuticals PLC GWPH
Neptune Wellness Solutions Inc NEPT
Therapix Biosciences Ltd. TRPX
Tilray Inc TLRY

Cronos Group Inc

Cronos Group is a diversified cannabis company with operations in five continents. Its 850,000-square-foot joint-venture greenhouse project in Ontario, Canada should be completed in the second half of 2019.

Once it is fully operational, the greenhouse is expected to produce 70,000 kilograms per year. This would essentially double Cronos Group’s peak production. (Source: “Cronos Group Inc. Announces Third Quarter 2018 Results,” Cronos Group Inc, November 13, 2018.)

Cronos Group Inc Financials
Market Cap $2.9 billion
Forward Price/Earnings Ratio 29.56
Beta 3.41
Price/Earnings to Growth Ratio N/A
Total Cash $41.5 million
Total Liabilities $12.2 million

(Sources: Ibid. and “Cronos Group Inc. (CRON),” Yahoo! Finance, last accessed January 25, 2019.)

GW Pharmaceuticals PLC

Cambridge, England-based GW Pharmaceuticals PLC (NASDAQ:GWPH) is focused on developing cannabis-based medications. “Epidiolex,” which is used to treat epilepsy, is the first cannabis-derived drug approved by the U.S. Food and Drug Administration (FDA).

“Sativex” is used to treat multiple sclerosis, and was the first natural cannabis plant derivative to be approved by regulators in any country. It has been approved in over 25 countries, including the United States. GWPH has a deep pipeline of cannabinoid products in various stages of development. (Source: “About Us,” GW Pharmaceuticals PLC, last accessed January 25, 2019.)

GW Pharmaceuticals PLC Financials
Market Cap $4.5 billion
Forward Price/Earnings Ratio 88.04
Beta 3.43
Price/Earnings to Growth Ratio 0.42
Total Cash $354.9 million
Total Liabilities $75.4 million

(Sources: “GW Pharmaceuticals plc Reports Fiscal Fourth Quarter and Year-End 2018 Financial Results and Operational Progress,” GlobeNewswire, November 27, 2018. and “GW Pharmaceuticals plc (GWPH),” Yahoo! Finance, last accessed January 25, 2019.)

Neptune Wellness Solutions Inc

Neptune Wellness Solutions Inc (NASDAQ:NEPT) is a health and wellness company that provides products in five main areas: “Legal Cannabis,” “Ingredients,” “Turnkey Solutions,” “Pet Supplements,” and “Consumer Brand.”

The cannabis segment, which is the company’s new division, has been licensed by Health Canada to process cannabis for the production of cannabis extracts and oils at its 50,000-square-foot facility in Sherbrooke, Quebec. (Source: “Cannabis Business,” Neptune Wellness Solutions Inc, last accessed January 24, 2019.)

Neptune Wellness Solutions Inc Financials
Market Cap $271.6 million
Forward Price/Earnings Ratio -113.33%
Beta 1.97
Price/Earnings to Growth Ratio N/A
Total Cash $18.1 million
Total Liabilities $13.6 million

(Sources: “Consolidated Interim Financial Statements of Neptune Wellness Solutions Inc For the three-month and six-month periods ended September 30, 2018 and 2017,” Neptune Wellness Solutions Inc, last accessed January 25, 2019 and “Neptune Wellness Solutions Inc. (NEPT),” Yahoo! Finance, last accessed January 25, 2019.)

Therapix Biosciences Ltd.

Therapix Biosciences Ltd (NASDAQ:TRPX) is a specialty clinical-stage pharmaceutical company that develops drugs based on cannabinoid molecule.

Its four clinical programs treat a variety of under-served nervous disorders, including Tourette syndrome, obstructive sleep apnea, traumatic brain injury, and infectious diseases. (Source: “About Therapix Biosciences — Company Overview,” Therapix Biosciences Ltd., last accessed January 25, 2019.)

Therapix Biosciences Ltd. Financials
Market Cap $12.4 million
Forward Price/Earnings Ratio N/A
Beta 0.38
Price/Earnings to Growth Ratio N/A
Total Cash $2.0 million
Total Liabilities $1.4 million

(Sources: “Therapix Biosciences Reports Third Quarter 2018 Financial Results and Provides Business Update,” Therapix Biosciences Ltd., December 3, 2018 and “Therapix Biosciences Ltd. (TRPX),” Yahoo! Finance, last accessed January 25, 2019.)

Tilray Inc

Upstart Tilray Inc was the world’s biggest marijuana company by market cap in September 2018, but it has since given up that distinction.

The Nanaimo, British Columbia-based company is a global leader in the research, cultivation, production, and distribution of medical cannabis and cannabinoids. (Source: “A Global Leader,” Tilray Inc, last accessed January 25, 2019.)

Tilray was the first licensed producer of medical cannabis in the world to have its facility become Good Manufacturing Practices (GMP)-certified in accordance with European Medicine Agency (EMA) standards.

The company supplies its cannabis flower and extract products to tens of thousands of patients, physicians, pharmacies, governments, hospitals, and researchers in eight countries through its affiliated entities in Australia, New Zealand, Canada, Germany, and Portugal.

Tilray Inc Financials
Market Cap $6.9 billion
Forward Price/Earnings Ratio -239.93
Beta N/A
Price/Earnings to Growth Ratio N/A
Total Cash $104.2 million
Total Liabilities $35.7 million

(Sources: “Tilray, Inc. Reports Third Quarter 2018 Earnings,” Tilray Inc, November 13, 2018. and “Tilray, Inc. (TLRY),” Yahoo! Finance, last accessed January 25, 2019.)

Analyst Take

Hemp may no longer be in legion with the likes of LSD and heroin, but marijuana still is. That’s why there are still a lot of big cannabis names out there trading exclusively in Canada or on the OTC markets.

But a growing number of cannabis companies are trading on the NYSE and the Nasdaq. Because the cannabis industry is still evolving, the number of marijuana stocks that trade on these exchanges will grow.

Recreational marijuana will eventually become legal in the United States. We might fight the metric system, but we’re not going to be the last holdout in the industrialized world when it comes to pot. When that happens, the floodgates will open and there will be a huge rush of cannabis companies listing on the NYSE and Nasdaq.