Equities analysts forecast that InMed Pharmaceuticals Inc. (NASDAQ:INM – Get Rating) will report sales of $1.88 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for InMed Pharmaceuticals’ earnings. The lowest sales estimate is $750,000.00 and the highest is $3.00 million. The company is scheduled to announce its next earnings report on Monday, January 1st.
On average, analysts expect that InMed Pharmaceuticals will report full-year sales of $1.21 million for the current year, with estimates ranging from $550,000.00 to $1.77 million. For the next year, analysts forecast that the company will report sales of $5.90 million, with estimates ranging from $2.50 million to $10.19 million. Zacks’ sales averages are an average based on a survey of analysts that follow InMed Pharmaceuticals.
InMed Pharmaceuticals (NASDAQ:INM – Get Rating) last announced its earnings results on Friday, May 13th. The company reported ($0.25) EPS for the quarter, meeting analysts’ consensus estimates of ($0.25).
Several institutional investors and hedge funds have recently bought and sold shares of INM. Morgan Stanley grew its holdings in shares of InMed Pharmaceuticals by 76.6% during the first quarter. Morgan Stanley now owns 12,581 shares of the company’s stock worth $41,000 after purchasing an additional 5,459 shares during the last quarter. Renaissance Technologies LLC acquired a new position in InMed Pharmaceuticals in the fourth quarter valued at approximately $58,000. Finally, Empery Asset Management LP acquired a new position in InMed Pharmaceuticals in the first quarter valued at approximately $58,000. 2.88% of the stock is owned by institutional investors.
Shares of INM stock remained flat at $$0.80 during mid-day trading on Monday. 23,076 shares of the stock were exchanged, compared to its average volume of 161,068. InMed Pharmaceuticals has a fifty-two week low of $0.65 and a fifty-two week high of $3.51. The stock has a market cap of $11.70 million, a price-to-earnings ratio of -0.65 and a beta of -0.28. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.13 and a quick ratio of 2.49. The firm’s 50-day moving average is $0.88 and its 200 day moving average is $1.13.
InMed Pharmaceuticals Company Profile (Get Rating)
InMed Pharmaceuticals Inc, a clinical stage pharmaceutical company, researches and develops cannabinoid-based therapies. The company's lead product is INM-755, a cannabinol topical cream, which is in a second Phase I clinical trials for the treatment of epidermolysis bullosa. The company is also involved in developing INM-088, which is in preclinical studies for the treatment of glaucoma; and INM-405 for the treatment of pain.
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