H.C. Wainwright Starts Irwin Naturals (IWINF) at Buy
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H.C. Wainwright analyst Patrick Trucchio initiates coverage on Irwin Naturals (OTC: IWINF) with a Buy rating and a price target of $5.00.
The analyst commented, "Irwin Naturals, founded in 1994 and based in Los Angeles, California, has historically developed vitamins and other health supplements, distributing these consumer packaged goods (CPG) primarily in North America through health food stores and mass-market retailers. Interestingly, Irwin is expected to be the first brand with broad recognition and distribution in the U.S. to enter the neuropharmaceutical psychedelics space in the area of delivery. Specifically, through Irwin Naturals Emergence, established on September 17, 2021, Irwin is expected to pursue an ambitious merger and acquisition (M&A) approach, aggregating hundreds of profitable mental health clinics under the newly formed Irwin Naturals Emergence brand. These clinics are expected to administer psychoactive agents, which have demonstrated potential across a plethora of mental health disorders including depression, anxiety, post-traumatic stress disorder (PTSD), anorexia nervosa, alcohol use disorder (AUD), opioid use disorder (OUD), and autism, among others. Emergence clinics may also be used for clinical trials to assess a plethora of psychoactive agents at various stages of development. In addition, Irwin has a line of products containing full-spectrum hemp extract (FSHE) with cannabidiol (CBD), and on October 19, 2021, formed a cannabis division with the intent of entering into the legal cannabis markets in North America for adult use. With Irwin well positioned for the psychedelic mental health megatrend as well as adult use of CBD and cannabis in the U.S., we initiate coverage of IWINF with a Buy rating and $5 price target."
Shares of Irwin Naturals closed at $1.51 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
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