Cannabis company TerrAscend Q3 revenue misses estimates
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TerrAscend reported Q3 revenue of $65.1 million, missing analyst expectations of $66.03 million, and a net loss of $9.9 million from continuing operations. The company completed a $79 million refinancing and plans to exit the Michigan market by year-end. Despite the revenue miss, TerrAscend is evaluating strategic M&A opportunities and aims to benefit from potential regulatory changes. Maryland revenue grew 14.8% year-over-year. Analysts maintain a "buy" rating, with a median 12-month price target of C$2.00, reflecting a 51.5% upside from its recent closing price of C$0.97.
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