Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Canadian (TSX) Pharma Industry Analysis

UpdatedMar 29, 2026
DataAggregated Company Financials
Companies56
  • 7D-3.5%
  • 3M-19.0%
  • 1Y16.8%
  • YTD-21.5%

Over the last 7 days, the Pharma industry has dropped 3.8%, driven by declines in Trulieve Cannabis and Curaleaf Holdings of 11% and 8.0%, respectively. On the other hand Knight Therapeutics is actually up 12%. This takes the industry's 12 month performance to a gain of 17%. Earnings are forecast to grow by 59% annually.

Industry Valuation and Performance

Has the Canadian Pharma Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 29 Mar 2026CA$12.7bCA$11.4b-CA$1,684,636,622.5311.6x-7.6x1.1x
Tue, 24 Feb 2026CA$14.3bCA$11.3b-CA$1,904,655,629.1714.5x-7.5x1.3x
Thu, 22 Jan 2026CA$15.9bCA$11.3b-CA$1,952,360,463.9015.6x-8.1x1.4x
Sat, 20 Dec 2025CA$17.5bCA$11.3b-CA$1,947,824,602.6714.8x-9x1.6x
Mon, 17 Nov 2025CA$13.0bCA$11.4b-CA$1,922,781,196.5614.9x-6.8x1.1x
Wed, 15 Oct 2025CA$17.2bCA$11.3b-CA$2,045,209,392.2535.6x-8.4x1.5x
Fri, 12 Sep 2025CA$16.3bCA$11.2b-CA$2,033,258,682.2539.1x-8x1.5x
Sun, 10 Aug 2025CA$13.6bCA$11.7b-CA$2,500,577,706.4727.2x-5.5x1.2x
Tue, 08 Jul 2025CA$10.1bCA$11.7b-CA$2,537,375,713.8618.9x-4x0.9x
Thu, 05 Jun 2025CA$9.6bCA$11.7b-CA$2,521,126,468.3118.4x-3.8x0.8x
Sat, 03 May 2025CA$10.8bCA$11.9b-CA$2,504,613,172.5920.9x-4.3x0.9x
Mon, 31 Mar 2025CA$10.3bCA$12.3b-CA$2,594,343,288.5719.5x-4x0.8x
Wed, 26 Feb 2025CA$11.8bCA$12.1b-CA$2,224,950,738.8822.1x-5.3x1x
Fri, 24 Jan 2025CA$12.2bCA$12.1b-CA$2,412,909,066.2534.2x-5x1x
Sun, 22 Dec 2024CA$12.7bCA$12.1b-CA$2,414,708,151.3721.1x-5.3x1x
Tue, 19 Nov 2024CA$14.9bCA$12.0b-CA$2,653,132,502.2017.1x-5.6x1.2x
Thu, 17 Oct 2024CA$18.6bCA$11.7b-CA$2,702,419,609.2417.5x-6.9x1.6x
Sat, 14 Sep 2024CA$18.0bCA$11.6b-CA$2,702,980,027.3520.7x-6.6x1.5x
Mon, 12 Aug 2024CA$18.8bCA$11.7b-CA$2,772,137,137.6423.6x-6.8x1.6x
Wed, 10 Jul 2024CA$19.1bCA$11.7b-CA$3,191,369,717.0718.8x-6x1.6x
Fri, 07 Jun 2024CA$20.8bCA$11.7b-CA$2,743,874,058.4912.9x-7.6x1.8x
Sun, 05 May 2024CA$24.9bCA$11.8b-CA$3,419,189,697.6611.4x-7.3x2.1x
Tue, 02 Apr 2024CA$20.6bCA$10.5b-CA$3,537,385,853.999.1x-5.8x2x
Thu, 29 Feb 2024CA$21.9bCA$12.0b-CA$4,651,466,551.379.2x-4.7x1.8x
Sat, 27 Jan 2024CA$22.4bCA$12.3b-CA$6,749,706,536.009.6x-3.3x1.8x
Mon, 25 Dec 2023CA$17.0bCA$12.2b-CA$6,714,594,490.008.6x-2.5x1.4x
Wed, 22 Nov 2023CA$18.0bCA$12.5b-CA$6,838,470,834.007.1x-2.6x1.4x
Fri, 20 Oct 2023CA$17.6bCA$12.4b-CA$7,346,408,234.0012.9x-2.4x1.4x
Sun, 17 Sep 2023CA$23.4bCA$13.0b-CA$7,894,153,313.0014.8x-3x1.8x
Tue, 15 Aug 2023CA$13.9bCA$13.1b-CA$8,065,410,468.0011.7x-1.7x1.1x
Thu, 13 Jul 2023CA$16.1bCA$13.1b-CA$9,497,075,855.0012.6x-1.7x1.2x
Sat, 10 Jun 2023CA$14.8bCA$13.2b-CA$10,391,542,498.0010.4x-1.4x1.1x
Mon, 08 May 2023CA$16.6bCA$13.2b-CA$10,199,872,771.0011.1x-1.6x1.3x
Wed, 05 Apr 2023CA$15.5bCA$13.4b-CA$10,020,182,119.009.1x-1.5x1.2x
Price to Earnings Ratio

-1.5x


Total Market Cap: CA$15.5bTotal Earnings: -CA$10,020,182,119.00Total Revenue: CA$13.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Pharma Industry Price to Earnings3Y Average -5.1x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian Pharmaceuticals industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The 3-year average PS ratio of 1.4x is higher than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Pharmaceuticals industry have improved over the last three years.
  • Meanwhile revenues for these companies have declined 5.1% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, losses have been shrinking.

Industry Trends

Which industries have driven the changes within the Canadian Healthcare industry?

CA Market2.28%
Healthcare-1.69%
Pharma-3.46%
Pharma-3.46%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
GUD Knight TherapeuticsCA$7.2012.3%
+CA$77.4m		18.2%PS1.6x
CRON Cronos GroupCA$3.485.1%
+CA$64.4m		35.9%PS6.5x
CRDL Cardiol TherapeuticsCA$1.7233.3%
+CA$47.7m		24.6%PB20x
QNTM Quantum BioPharmaCA$6.57111.3%
+CA$25.6m		-46.0%PB3.1x
CPH Cipher PharmaceuticalsCA$17.324.5%
+CA$19.3m		37.8%PE11.6x

Latest News

CRON
CA$3.48
Cronos Group
7D
5.1%
1Y
35.9%

CRON: Lean Cost Base And Brand Execution Will Shape Future Earnings Potential

Analysts have lifted their average price target for Cronos Group to CA$4.50, citing expectations for faster top line expansion, a leaner cost base and stronger profitability potential supported by the company's established Canadian cannabis brands and cultivation practices. Analyst Commentary Recent Street research has framed Cronos Group as a branded cannabis operator with established products in Canada and an emphasis on scaling revenue while keeping operating costs in check.
WEED
CA$1.23
Canopy Growth
7D
-6.1%
1Y
-13.4%
XLY
CA$0.14
Auxly Cannabis Group
7D
7.7%
1Y
75.0%
QNTM
CA$6.57
Quantum BioPharma
7D
111.3%
1Y
-46.0%
CPH
CA$17.32
Cipher Pharmaceuticals
7D
4.5%
1Y
37.8%

CPH: Balanced Outlook Will Weigh New Drug Review And Acquisition Execution

Analysts recently lifted their price target on Cipher Pharmaceuticals to CA$21 from CA$20, reflecting updated assumptions that combine a higher revenue growth outlook with slightly lower profit margin and future P/E expectations. Analyst Commentary The latest price target move to CA$21 suggests that covering analysts are refining their assumptions rather than making a sweeping change in their outlook.
VRNO
CA$1.41
Verano Holdings
7D
-6.0%
1Y
54.9%
CURA
CA$2.77
Curaleaf Holdings
7D
-8.0%
1Y
93.7%
TRUL
CA$7.30
Trulieve Cannabis
7D
-11.3%
1Y
32.2%

TRUL: Schedule III Shift And Lower P E Multiple Will Drive Upside

Analysts have nudged their fair value price target for Trulieve Cannabis to CA$14.95, reflecting updated assumptions for slightly higher revenue growth, modestly improved profit margins, and a lower future P/E multiple in their models. Analyst Commentary While the latest fair value update suggests analysts see some improvement in Trulieve Cannabis' revenue and margin profile, there is still a clear undercurrent of caution in recent research across adjacent data and credit reporting names that can inform how you think about risk.
GUD
CA$7.20
Knight Therapeutics
7D
12.3%
1Y
18.2%

GUD: Higher Earnings Visibility And 2026 Guidance Will Support Bullish Repricing

Analysts have raised their blended price target for Knight Therapeutics to CA$11.00, supported by updated assumptions on discount rate, revenue growth, profit margin and future P/E, as well as a recent CA$0.50 target move from Street research. Analyst Commentary Recent research commentary points to a more constructive tone around Knight Therapeutics, with the CA$0.50 increase in one target contributing to a higher blended price target of CA$11.00.
CL
CA$1.14
Cresco Labs
7D
-10.9%
1Y
2.7%

CL: Lower P/E Assumptions Will Support A More Upside-Skewed Outlook

Analysts now see Cresco Labs' fair value as aligning with a trimmed CA$2.25 price target, down from CA$2.50. This reflects updated views on growth, margins and a lower future P/E assumption.
TSND
CA$0.78
TerrAscend
7D
-9.3%
1Y
14.7%
HITI
CA$3.14
High Tide
7D
1.6%
1Y
10.2%
VREO
CA$0.51
Vireo Growth
7D
-3.8%
1Y
-22.7%
GTII
CA$8.00
Green Thumb Industries
7D
-5.9%
1Y
-1.0%

GTII: Rescheduling Order Will Support Higher Future Share Price

Analysts have made a modest trim to their CA$ fair value estimate for Green Thumb Industries, with the target shifting from about CA$18.13 to around CA$18.08. This adjustment reflects a balance between slightly higher revenue growth assumptions, a lower profit margin outlook, and a marginally higher future P/E multiple.
CRDL
CA$1.72
Cardiol Therapeutics
7D
33.3%
1Y
24.6%
MVMD
CA$0.065
Mountain Valley MD Holdings
7D
44.4%
1Y
160.0%