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Zacks: Analysts Expect InMed Pharmaceuticals Inc. (NASDAQ:INM) Will Post Earnings of

Analysts expect InMed Pharmaceuticals Inc. (NASDAQ:INMGet Rating) to report earnings of ($0.23) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for InMed Pharmaceuticals’ earnings, with estimates ranging from ($0.25) to ($0.21). InMed Pharmaceuticals reported earnings of ($0.41) per share in the same quarter last year, which indicates a positive year over year growth rate of 43.9%. The firm is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that InMed Pharmaceuticals will report full year earnings of ($0.95) per share for the current year, with EPS estimates ranging from ($1.03) to ($0.87). For the next financial year, analysts anticipate that the company will post earnings of ($0.70) per share, with EPS estimates ranging from ($0.70) to ($0.69). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow InMed Pharmaceuticals.

InMed Pharmaceuticals (NASDAQ:INMGet Rating) last issued its quarterly earnings data on Monday, February 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The firm had revenue of $0.27 million for the quarter, compared to analysts’ expectations of $0.25 million. During the same period last year, the firm posted ($0.37) earnings per share.

A number of research analysts recently weighed in on INM shares. Roth Capital restated a “buy” rating on shares of InMed Pharmaceuticals in a research note on Tuesday, February 15th. Zacks Investment Research cut shares of InMed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, January 20th.

Shares of INM stock traded up $0.10 during mid-day trading on Friday, reaching $0.91. 241,902 shares of the company’s stock traded hands, compared to its average volume of 312,321. InMed Pharmaceuticals has a 12 month low of $0.65 and a 12 month high of $3.76. The firm has a 50 day moving average price of $0.87 and a two-hundred day moving average price of $1.22. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.49 and a current ratio of 2.71. The firm has a market capitalization of $12.87 million, a PE ratio of -0.66 and a beta of -0.27.

A hedge fund recently bought a new stake in InMed Pharmaceuticals stock. Renaissance Technologies LLC acquired a new stake in InMed Pharmaceuticals Inc. (NASDAQ:INMGet Rating) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 44,200 shares of the company’s stock, valued at approximately $58,000. Renaissance Technologies LLC owned approximately 0.31% of InMed Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). 3.97% of the stock is currently owned by hedge funds and other institutional investors.

About InMed Pharmaceuticals (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.

Further Reading

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