Incannex Healthcare (NASDAQ:IXHL) Releases Quarterly Earnings Results, Misses Estimates By $0.28 EPS

Incannex Healthcare (NASDAQ:IXHL) issued its quarterly earnings results on Friday. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.28), FiscalAI reports.

Incannex Healthcare Price Performance

IXHL opened at $3.40 on Friday. The business has a 50-day moving average of $3.29 and a two-hundred day moving average of $3.47. The stock has a market capitalization of $40.70 million, a price-to-earnings ratio of -2.19 and a beta of 6.97. Incannex Healthcare has a 12 month low of $2.49 and a 12 month high of $19.71.

Analyst Ratings Changes

Several research analysts recently commented on IXHL shares. Alliance Global Partners began coverage on shares of Incannex Healthcare in a research note on Monday, June 8th. They issued a “buy” rating and a $18.00 price target on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Incannex Healthcare in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Incannex Healthcare currently has a consensus rating of “Hold” and a consensus target price of $18.00.

About Incannex Healthcare

Incannex Healthcare Limited (NASDAQ: IXHL) is a clinical-stage biotechnology company developing pharmaceutical products and therapies for conditions with significant unmet medical needs. The company’s research focuses on cannabinoid- and psychedelic-assisted treatments, with programs addressing sleep-disordered breathing, pain, inflammation, mental health and other complex disorders.

One of Incannex’s principal programs is IHL-42X, an investigational combination of dronabinol and acetazolamide being developed for obstructive sleep apnea.