InMed Pharmaceuticals (NASDAQ:INM) Releases Quarterly Earnings Results

InMed Pharmaceuticals (NASDAQ:INM) announced its quarterly earnings results on Thursday. The company reported ($0.44) 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 Trading Down 6.2%

Shares of NASDAQ:INM traded down $0.11 during trading on Friday, reaching $1.60. The stock 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 quick ratio of 6.47 and a current ratio of 6.99. The stock has a market cap of $4.48 million, a price-to-earnings ratio of -0.13 and a beta of 0.29. The firm’s fifty day moving average is $2.12 and its 200 day moving average is $2.50. InMed Pharmaceuticals has a 52 week low of $1.56 and a 52 week high of $8.27.

Wall Street Analysts Forecast Growth

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

About InMed Pharmaceuticals

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.