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| New Research Report Issued on AXIM with a Target Price of $17 |
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 Hot Stock to Watch |
Company: Axim Biotechnologies, Inc. (OTCQB: AXIM)
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End of Day:
Price: 10.75
Change (%): + 2.94 (37.64)
Volume: 260,390 |
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SeeThruEquity Initiates Coverage On Medical Marijuana, Inc. Investment Company AXIM Biotech (OTC: AXIM) With A Target Price Of $17.00
SAN DIEGO, May 17, 2017 /PRNewswire/ - Medical Marijuana, Inc. (OTC PINK: MJNA), the first-ever publicly traded cannabis company in the United States, announced today that its investment company AXIM® Biotechnologies, Inc. (AXIM® Biotech) (OTC: AXIM) received coverage initiation from SeeThruEquity, a leading independent equity research firm focused on smallcap and microcap public companies, with a price target of $17.00.
“We are thrilled to see a well respected Wall Street equities firm initiating coverage on AXIM Biotech,” said Dr. Stuart Titus, President and CEO of Medical Marijuana Inc. (OTC: MJNA). “We have believed that AXIM would emerge as an up-and-coming biotech concern and quite excited about their cannabinoid research and pharmaceutical development activities. It is thrilling to see the investment community taking notice of AXIM’s emerging story and perceiving future value for investors.”
The full research report is available here. Highlights from the report include:
Large market opportunity
The market for cannabis-based pharmaceutical and nutraceuticals is emerging and quickly growing. Indeed, legal cannabis is among the fastest growing industries in the United States, estimated at 7.1 billion dollars in 2016, including both medical and recreational uses, according to a report by New Frontier and ArcView Market Research. Longer term, the market has been forecast by Cowen to be as much as 50 billion dollars within ten years assuming federal legalization takes place in the United States. We note that progress towards legalization is likely to have an impact on the valuation and perception of Axim and all cannabis companies, however the company’s strategy includes a global perspective, legal nutraceuticals, and clinical products - not recreational cannabis.
CanChew+ Nutraceutical Sales, Phase 2 results on MedChewRx, are areas to watch in 2017
We see several key events ahead for Axim as it advances its cannabis-based clinical pipeline and accelerates commercial activities for its nutraceutical and cosmetic products, led by CanChew+. The company’s initial nutraceutical products, and its lead clinical candidates, feature its patented delivery systems, a chewing gum formulation that management believes is an ideal oral, transmucosal controlled-release delivery system. Axim has launched CanChew®, a patented, controlled-release cannabidiol extracted from industrial hemp chewing gum for general well-being, which is currently available in all 50 US States and over 40 countries internationally. The company has issued an outlook for high growth in this area, with more than ten commercial-ready products in the nutraceutical, cosmetic, and oral care markets. Axim also has more than 20 clinical products planned, and is in the process of developing pharmaceutical-candidates using chewing gum and other delivery methods, such as suppositories, transdermal delivery systems, and transconjunctival, among others, for a number of indications treating pain, spasticity, anxiety, nausea and vomiting, cachexia, and other under the MedChewRx™ brand family. The company expects to report trial results during 2017, which may provide insight into this strategy and the delivery mechanism’s possible applicability to other indications.
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