The one available analyst rating on the shares is buy.
Wall Street's median 12-month price target for Ascend Wellness Holdings Inc is $3.38, about 703.6% above its August 11 closing price of $0.42.
Growth driven by retail expansion and market share gains
The company said growth in retail revenue was led by new store and partner openings, especially in Ohio and New Jersey.
Ascend Wellness reported an approximately 5% sequential increase in combined market share across seven states despite a contracting environment.
The company also said margin and cash flow performance benefited from an improved product mix and a focus on maximizing sales of Ascend-branded products through the retail channel.
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