InMed Pharmaceuticals (NASDAQ:INM) Posts Earnings Results

InMed Pharmaceuticals (NASDAQ:INM) announced its quarterly earnings data on Thursday. The company reported ($0.44) earnings per share (EPS) for the quarter, Zacks reports. InMed Pharmaceuticals had a negative net margin of 171.13% and a negative return on equity of 92.47%.

InMed Pharmaceuticals Stock Down 6.2%

NASDAQ INM traded down $0.11 on Friday, reaching $1.60. The company had a trading volume of 135,393 shares, compared to its average volume of 74,730. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.99 and a quick ratio of 6.47. InMed Pharmaceuticals has a 1 year low of $1.56 and a 1 year high of $8.27. The firm has a 50-day moving average of $2.12 and a 200-day moving average of $2.50. The firm has a market capitalization of $4.48 million, a PE ratio of -0.13 and a beta of 0.29.

Analyst Ratings Changes

INM has been the subject of several research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of InMed Pharmaceuticals in a research note on Wednesday, October 8th. Wall Street Zen upgraded InMed Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, July 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, InMed Pharmaceuticals presently has an average rating of “Sell”.

InMed Pharmaceuticals Company Profile

InMed Pharmaceuticals Inc, a clinical stage pharmaceutical company, develops a pipeline of prescription-based products. The company operates through two segments, the InMed and the BayMedica. The InMed segment researches and develops cannabinoid-based pharmaceuticals products. The BayMedica segment develops proprietary manufacturing technologies to produce and sell rare cannabinoids for the health and wellness industry.