Breaking: Edible Garden Beats Estimates; Bullish Stance on Zai Lab
- August 10th, 2023
- 376 views
Edible Garden AG Incorporated (Nasdaq: EDBL), a provider of fresh herbs and produce, reported a second-quarter 2023 loss of $(0.24) per share, better than the consensus estimate loss of $(0.90). The company's quarterly sales amounted to $4.22 million, exceeding the analysts' projected revenue of $3.66 million for the period.
In a positive development, the company reaffirmed its target of achieving positive quarterly cash flow from operations before the end of the year.
$EDBL was trading at $1.77 in pre-market, indicating a significant increase of $0.58 (+48.74%).
In other news, Zai Lab Limited (Nasdaq: ZLAB), a prominent player in the biopharmaceutical sector, has garnered attention as Cantor Fitzgerald initiates coverage with an Overweight rating and a price target of $70.
With $ZLAB closing at $26.38 on Wednesday, the stated price target suggests a potential upside of $43.62 or around 165.18%, according to the financial services firm's evaluation.
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