Tweed Marijuana’s (Tweed Marijuana Stock Quote, Chart, News: TSXV:TWD) focus on reaching out to physicians is smart because they are in the “funnel point” for enrollment in the Marijuana for Medical Purposes Regulations program, says M Partners analyst Daniel Pearlstein.
In a business progress update, Tweed today announced it has had more than 6000 interactions with doctors to date. The company also announced it had received accreditation from the College of Family Physicians of Canada for a continuing medical education program.
“Incorporating strong medical outreach and education initiatives is a top priority for Tweed. Canadian doctors will feel increasingly confident prescribing cannabis to appropriate patients if they receive guidance and education,” said CEO Bruce Linton. “We are funding major research initiatives and creating accredited medical education materials that will benefit hundreds of thousands of Canadians who will use this medicine in the coming decade.”
Pearlstein thinks Tweed is taking the right steps in its ongoing expansion.
“Accreditation from the College of Family Physicians of Canada (CFPC) for a continuing medical education program shows Tweed’s continued commitment to engage and educate physicians. Fully licensed and practicing doctors need CME credits (continuing medical education credits) for 250 hours every five years at a minimum of 25 hours per year,” noted Pearlstein.
In a research update to clients today, Pearlstein maintained his “Buy” rating and one year target of $2.75 on Tweed Marijuana, implying a return to 39% at the time of publication.