Biotech focus

Top 3 Best Performing Cannabis Stocks

The cannabis industry is rapidly growing in the United States, Canada, and around the world. Over the next decade, analysts expect the U.S. market to exceed $50 billion and the Canadian market to rise past $20 billion in annual revenue. Many companies have pounced on the opportunities in the space and provided investors with significant returns, but the market still remains in the early stages and the best opportunities may be in the future.

In this article, we will take a look at the top three best performing cannabis stocks over the past 52 week period and their potential moving forward.

#1: AXIM Biotech (+2,445.61%)

AXIM Biotechnologies Inc. (OTCQB: AXIM) is focused on developing a portfolio of over 20 cannabinoid-based pharmaceuticals and nutraceuticals along with 17 patents and 20 trademarks. The company’s flagship products utilize its proprietary chewing gum-based delivery system to provide consumers with superior bioavailability without the negative side-effects or stigma of smoking cannabis or taking consuming edibles.

In recent months, the company began early-stage clinical trials of its CanChew Plus for the treatment of irritable bowel syndrome (“IBS”), as well as CanChew Rx for treatment of pain and spasticity in Multiple Sclerosis (MS) patients which is projected to reach a market size of $20 billion by 2024. In addition to those programs, AXIM recently announced a partnership with a US API company to develop an alternative generic version of FDA-approved Marinol(R) as reported by Forbes. These clinical programs represent multi-billion dollar markets where cannabinoids could prove beneficial in providing patients with much-needed relief.

#2: Supreme Pharmaceuticals (+286.44%) 

Supreme Pharmaceuticals Inc. (CNS: SL) (OTC: SPRWF) is a one of about 40 licensed producers of medical marijuana under Health Canada’s Access to Cannabis for Medical Purposes Regulations - or ACMPR. The company’s 7-acre - 342,000 square foot - hybrid greenhouse combines the best practices of indoor cultivation with the cost structure of a greenhouse to produce high-quality marijuana at a low cost.

Unlike many other licensed producers, the company is focusing exclusively on the business-to-business market where it will employ a wholesale business model. The company anticipates that the greenhouse will be capable of producing over 50 million grams of cannabis per year at full capacity. Its next buildout will bring on an additional 80,000 square feet of production space in addition to the 40,000 square feet that’s already operational.

#3: American Cannabis (+173.5%)

American Cannabis Co. (OTCQB: AMMJ) is a business-to-business consulting firm and distributor of ancillary products and services to the cannabis industry. The company offers turnkey end-to-end solutions to existing and aspiring businesses in the cannabis industry by leveraging its hands-on experience and knowledge to provide business planning, license procurement, and operational best practices.

Recently, the company announced that it secured its first retainer client in the State of Louisiana. CB Medical LLC engaged the company’s services as an applicant of the LSU-sponsored medical marijuana program. The two companies aim to design and operate a medical marijuana program for patients in Louisiana in partnership with the state’s leading university - complete with an indoor cultivation center and laboratory.

Looking Ahead

Investors interested in the cannabis industry may want to take a closer look at these top performers, which may still be in the early stages of their growth. For example, AXIM Biotech has numerous upcoming catalysts with its clinical programs and could see tremendous value creation when it launches approved pharmaceuticals into the market. Similarly, Supreme Pharmaceuticals only recently opened its licensed production facility.