Khiron Life Sciences (TSXV: KHRN) price target set at $6.75
Chris Naprawa, President of Khiron Life Sciences (TSXV: KHRN) spoke at Canaccord Genuity’s (CG) 39th Annual Growth Conference in Boston.
The following are excerpts from his talk from a CG report following the presentation. “…Naprawa reiterated Khiron’s focus on patients and brands and the company’s primary objective of securing a million patients. In Colombia, medical CBD sales are expected to begin this quarter, following the initial harvest of CBD cannabis. Extracts will be delivered to patients individually as specifically prepared formulations and Khiron is currently working through the final commercialization steps.
Furthermore, Mr. Naprawa stated that the company expects to start THC medical sales later this year, pending the receipt of a THC quota. Khiron also continues to pursue insurance coverage. Company remains bullish on the Mexican and Brazilian markets. Specifically, Mr. Naprawa highlighted the recreational potential in Mexico and its strong positioning through its Dixie joint venture (JV). This week, Dixie announced a major JV with Arizona, the top-ranking iced tea beverage maker in the US, which management believes validates Dixie's product platform. Another area management is excited about is CBD pet care products, which it expects could be commercialized by late 2019 or early 2020.”
Canaccord Genuity has a price target of $6.75 per share for KHRN that closed at $2.08 per share. That makes KHRN potentially more than a triple in CG’s estimation.