Axim Biotechnologies Inc (OTCMKTS:AXIM)
Shares of Axim Biotechnologies Inc (OTCMKTS:AXIM) experienced market gains after SeeThruEquity issued a price target of $17 per share. The new price target is 62% above the current market price of $10.52 per share.
Axim Biotechnologies Inc (OTCMKTS:AXIM) belongs to the legal pharmaceutical and nutraceutical sector of the larger cannabis industry. According to SeeThruEquity, the rapid spread in the legalization of cannabis has a tremendous impact on its market perception and valuation. This is especially true with the upcoming unveiling of several new exchange-traded funds (ETFs) which are targeted at investors wishing to expose their portfolio to the cannabis industry.
Axim Biotechnologies Inc (OTCMKTS:AXIM) has lined up several catalysts which could positively impact its valuation in the coming quarters. The company recently unveiled the CanChew®, a patent controlled cannabis chewing gum meant for general well-being. With over 10 commercialized cannabis products in the cosmeceutical, nutraceutical, and oral care sectors, AXIM Biotech is generating significant revenue. Apart from these products, the company has over 20 clinical products lined up and is in the process of developing several pharmaceutical candidates using chewing gum among other methods of delivery – among them transconjuctivals, transdermals and suppositories.
According SeeThruEquity, most of the little-known products in the company’s production line may become some of the best category sellers in the industry. For instance, the management is upbeat that the company’s cannabinoid product Oraximax™ will be a trend setter in oral care products due to its bactericidal, anti-proliferative, and anti-inflammatory properties. The company also produces skin care and lozenge products that have a lot of potential in the wider consumer market.
Axim Biotechnologies Inc (OTCMKTS:AXIM), according to SeeThruEquity, is an “intriguing speculative company” which targets potential markets for legalized cannabis products. The company uses unique intellectual property plus strong and bold development strategies. The company also intends to list on one of the major exchanges. Going by its performance financially, SeeThruEquity expects AXIM Biotech to start generating significant revenue in the coming financial year. In particular, the analyst has predicted $49 million in revenue, $6.7 million in EBITDA and $0.01 per share in earnings.
Axim Biotechnologies Inc (OTCMKTS:AXIM) is in a better position to expand its revenues to record high margins by utilizing licensing opportunities that are continually coming up.
Axim Biotechnologies Inc (OTCMKTS:AXIM)’s stock opened Thursday at a high of $12.19 after closing the previous session at $11.93.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
About the author: Liam is a retired civil engineer with a passion for stock analysis. Living in Helena, MT, Liam keeps busy by tying flies for fisherman and discovering stocks that normally go un-noticed.