Top Marijuana Stocks on the NASDAQ

lthough the majority of U.S.-based cannabis companies and many foreign ADRs trade over-the-counter, a few marijuana companies are traded on the NASDAQ. Some investors prefer stocks that are listed on the NASDAQ to other exchanges due to their increased liquidity and tighter spreads than the OTC markets. Indeed, as the cannabis industry has grown in recent months and years, uplisting from an OTC market to a reputable U.S. exchange has become a banner achievement for many rising marijuana companies.

The NASDAQ was the first electronic exchange and has long been synonymous with technology and biotechnology. The cannabis companies on the NASDAQ reflect this, with the majority of them operating in the biotech area of the industry. Here are the NASDAQ-listed marijuana stocks, in alphabetical order, as of Oct. 9, 2018, with a breakdown of their total returns.

The NASDAQ was the first electronic exchange and has long been synonymous with technology and biotechnology. The cannabis companies on the NASDAQ reflect this, with the majority of them operating in the biotech area of the industry. Here are the NASDAQ-listed marijuana stocks, in alphabetical order, as of February 5, 2019, with a breakdown of their total returns.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA)

Arena Pharmaceuticals is a biotech company involved in the manufacturing of medical marijuana drugs. Research and development around Arena’s APD371 is the primary focus of its cannabis biotech initiatives.

Atlantic Alliance Partnership Corp. (NASDAQ:AAPC)

Atlantic Alliance Partnership Corp. is a blank check company that is currently in a merger agreement with Kalyx Development Inc. Kalyx is a leading real estate investment trust in the regulated cannabis industry in the U.S.

Cara Therapeutics Inc. (NASDAQ:CARA)

Cara Therapeutics is a clinical-stage biotechnology company focused on developing and commercializing new chemical entities for the indications of pain and pruritus (itching). Although all of their clinical-stage products target opioid receptors, Cara is currently conducting preclinical research on cannabinoids for the treatment of neuropathic pain.

Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP)

Corbus Pharmaceuticals Holdings Inc. is a cannabis biotech company. Its research, development, and manufacturing are based around cannabis drugs that seek to treat chronic, inflammatory, fibrotic and other diseases.

Cronos Group Inc. (NASDAQ:CRON)

Cronos Group Inc. is a Canadian cannabis company. It owns and seeks cannabis related subsidiaries and licensed producers. In December of 2018, Marlboro maker Altria announced plans to invest $1.8 billion in Cronos. The investment has provided Cronos not only with additional cash to finance its continued expansion, but also with a well-established partner experienced in the process of marketing consumer brands.

GW Pharmaceuticals Plc. (NASDAQ:GWPH)

GW Pharmaceuticals is developing a portfolio of cannabinoid medicines, including Sativex for the treatment of spasticity related to multiple sclerosis and cancer pain, and Epidiolex for the treatment of childhood epilepsy. Sativex is commercialized in more than a dozen countries outside the U.S. and has received regulatory approval in several more countries. Epidiolex received FDA approval as a treatment for Dravet Syndrome and Lennox-Gastaut Syndrome, two forms of severe, early onset epilepsy without good existing treatment options. Other indications show that GW Pharmaceuticals is developing cannabinoid products for autism spectrum disorders, schizophrenia and glioma.

Insys Therapeutics Inc. (NASDAQ:INSY)

Insys Therapeutics is a specialty pharmaceutical company that develops and commercializes innovative drugs and novel drug delivery systems. Though the company is more widely known for its Subsys fentanyl spray, Insys has received FDA approval for a dronabinol (synthetic THC) oral solution for the treatment of nausea caused by chemotherapy and anorexia in patients with AIDS. Insys is also developing cannabinoid-based treatments for epileptic disorders, Prader-Willi Syndrome (a genetic disorder) and amphetamine addiction among other indications.

Intec Pharma Ltd. (NASDAQ:NTEC)

Intec Pharma is a clinical-stage biopharmaceutical company that is developing drugs based on its proprietary Accordion Pill technology. Intec’s product pipeline includes cannabinoid-based drugs being developed for the indications of low back pain and fibromyalgia.

Marrone Bio Innovations, Inc. (NASDAQ:MBII)

Marrone Bio Innovations, Inc. develops and distributes environmentally responsible bio-based pest management and plant health products. Just recently, Marrone Bio Innovations announced that three MBII active ingredients are now legal for use on cannabis crops in the California cultivation market.

Psychemedics Corporation (NASDAQ:PMD)

Psychemedics Corporation operates in the enforcement sector. Its business operations support drug testing through hair samples.

Therapix Biosciences Ltd. (NASDAQ:TRPX)

Therapix Biosciences Ltd. is a specialty clinical-stage pharmaceutical company focused on the development of cannabinoid-based drugs. Therapix’s current pipeline includes products targeted for the treatment of Tourette syndrome and mild cognitive impairment.

Tilray Inc. (NASDAQ: TLRY)

Tilray Inc. was the first marijuana-related company to IPO in the U.S. The Nanaimo, Vancouver Island-based company focuses on medical cannabis products.

Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE)

Zynerba Pharmaceuticals is focused on the development of synthetic cannabinoid treatments for transdermal (through the skin) delivery. Their pipeline currently includes two drugs being developed for indications including epilepsy, osteoarthritis, fibromyalgia, peripheral neuropathic pain and Fragile X syndrome.

The Marijuana Stock That Wall Street Thinks Will be the Biggest Winner This Year

Weed has made it to Wall Street in a big way. Three marijuana stocks currently trade on the New York Stock Exchange (NYSE), with another recently applying to be listed. Two marijuana stocks are listed on the Nasdaq

Wall Street is quite bullish on several of the top marijuana stocks, with expectations of huge increases over the next 12 months. But there’s one big marijuana stock that appears to have analysts more excited than any other. Which stock is it? I was surprised to learn that the answer is Tilray (NASDAQ:TLRY).

Marijuana leaf at the end of a line chart trending upward

IMAGE SOURCE: GETTY IMAGES.

What analysts like about Tilray

The consensus analysts’ one-year price target for Tilray represents an upside of nearly 70% over the current share price. One especially optimistic analyst thinks Tilray could soar more than 150% over the next year. Even the most pessimistic analyst surveyed by The Wall Street Journalprojects that Tilray’s share price should still increase by around 8% above the current level. 

One thing analysts probably like about Tilray is the company’s management team. CEO Brendan Kennedy served as managing director and then chief operating officer of Silicon Valley Bank Analytics before founding cannabis-focused private investment firm Privateer Holdings in 2011. Privateer Holdings formed Tilray in 2013.

Kennedy is surrounded by a strong executive team, including individuals with solid credentials spanning multiple industries. Tilray recently hired several new vice presidents who have impressive backgrounds with companies that market well-known consumer brands.

Analysts also probably have a favorable view of Tilray’s recent deals. The company announced a partnership with giant beer-maker Anheuser-Busch InBev in December to research non-alcoholic cannabis-infused beverages. In January, Tilray signed a revenue-sharing agreement with Authentic Brands Group (ABG) to market consumer cannabis products under ABG’s brands, including Nine West and Prince. The company quickly followed with another deal to buy Ontario-based marijuana grower Natura Naturals.

While a couple of its peers have received significant investments from major companies outside the cannabis industry, Tilray hasn’t done so yet. Analysts probably view Tilray as a prime candidate for a similar deal in the future. 

Runners-up

Tilray stands at the front of the pack as far as analysts are concerned. But three other top Canadian marijuana stocks aren’t far behind.

Analysts think Aurora Cannabis (NYSE:ACB) could rise by 56% over the next 12 months. Like Tilray, Aurora Cannabis hasn’t received an equity investment from a big company outside the cannabis industry. Aurora has been aggressive on the acquisitions front over the past two years and claims the largest production capacity in the industry as a result.

Canopy Growth (NYSE:CGC) is king of the mountain among marijuana stocks in terms of market cap. Analysts think the marijuana producer will get even bigger, with a one-year price target reflecting a 53% premium above Canopy’s current share price.

Wall Street also appears to think Aphria‘s (NYSE:APHA) comeback will continue. The marijuana stock was beaten down after short-sellers alleged the company drastically overpaid for an acquisition of LATAM Holdings in a deal that profited key insiders. Aphria has rebounded significantly from its drop after those allegations became public, though. Analysts expect the stock to jump another 50% over the next 12 months.

The only marijuana stock listed on a U.S. exchange that analysts aren’t optimistic about is Cronos Group (NASDAQ:CRON). In fact, the consensus price target for Cronos reflects a double-digit percentage drop from its current share price.

Are the analysts right?

I don’t agree with analysts’ negativity about Cronos Group. And so far this year, the naysayers have been proven wrong. Cronos was one of the three hottest marijuana stocks of January and has essentially doubled year to date.

I’m also skeptical that Tilray will be the best performer of the big Canadian marijuana stocks. The company dodged a bullet to some extent a few weeks ago, when Privateer Holdings announced that it wouldn’t sell any of its stock during the first half of 2019. However, the firm didn’t commit to not taking profits after then. With Privateer owning 76% of Tilray’s outstanding shares, any significant selling later this year could weigh on Tilray’s share price.

But Wall Street is on the right track, in my view, with its overall bullishness about marijuana stocks. I suspect that the growing Canadian recreational-marijuana market, expanding international medical marijuana markets, and the opening of the legal hemp market in the U.S. will be nice catalysts in 2019 and beyond.

Here’s The Marijuana Stock You’ve Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

And make no mistake – it is coming.

Cannabis legalization is sweeping over North America – 10 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.

And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.

Because a game-changing deal just went down between the Ontario government and this powerhouse company…and you need to hear this story today if you have even considered investing in pot stocks.