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InMed Pharmaceuticals Inc. (NASDAQ: INM) Forecast To Gain 62.75% And Reach Consensus Price Target

InMed Pharmaceuticals Inc. (NASDAQ:INM) has seen 1.12 million shares traded in the last trading session. The company, currently valued at $4.22M, closed the last trade at $7.45 per share which meant it lost -$0.35 on the day or -4.49% during that session. The INM stock price is -695.3% off its 52-week high price of $59.25 and 21.88% above the 52-week low of $5.82. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.15 million shares traded. The 3-month trading volume is 660.23K shares.

The consensus among analysts is that InMed Pharmaceuticals Inc. (INM) is a Hold stock at the moment, with a recommendation rating of 3.00. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 1 have rated it as a Hold, with 0 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.22.

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InMed Pharmaceuticals Inc. (NASDAQ:INM) trade information

Sporting -4.49% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 09/20/22 when the INM stock price touched $7.45 or saw a rise of 37.92%. Year-to-date, InMed Pharmaceuticals Inc. shares have moved -77.25%, while the 5-day performance has seen it change -38.28%. Over the past 30 days, the shares of InMed Pharmaceuticals Inc. (NASDAQ:INM) have changed -20.34%. Short interest in the company has seen 21670.0 shares shorted with days to cover at 0.08.

Wall Street analysts have a consensus price target for the stock at $20.00, which means that the shares’ value could jump 62.75% from current levels. The projected low price target is $20.00 while the price target rests at a high of $20.00. In that case, then, we find that the current price level is -168.46% off the targeted high while a plunge would see the stock gain -168.46% from current levels.

InMed Pharmaceuticals Inc. (INM) estimates and forecasts

Figures show that InMed Pharmaceuticals Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -62.66% over the past 6 months, with this year growth rate of 32.89%, compared to 11.30% for the industry.

1 analysts offering their estimates for the company have set an average revenue estimate of $750k for the current quarter. 1 have an estimated revenue figure of $500k for the next quarter concluding in Sep 2022.

INM Dividends

InMed Pharmaceuticals Inc. is expected to release its next earnings report between February 09 and February 14 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

InMed Pharmaceuticals Inc. (NASDAQ:INM)’s Major holders

Insiders own 0.78% of the company shares, while shares held by institutions stand at 9.05% with a share float percentage of 9.12%. Investors are also buoyed by the number of investors in a company, with InMed Pharmaceuticals Inc. having a total of 19 institutions that hold shares in the company. The top two institutional holders are Two Sigma Advisers, LP with over 0.15 million shares worth more than $0.15 million. As of Mar 30, 2022, Two Sigma Advisers, LP held 0.95% of shares outstanding.

The other major institutional holder is Empery Asset Management, LP, with the holding of over 61741.0 shares as of Mar 30, 2022. The firm’s total holdings are worth over $58203.0 and represent 0.38% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Fidelity NASDAQ Composite Index Fund and Blackstone Alternative Multi-Strategy Fund. As of May 30, 2022, the former fund manager holds about 0.09% shares in the company for having 13905.0 shares of worth $10706.0 while later fund manager owns 3000.0 shares of worth $2828.0 as of Mar 30, 2022, which makes it owner of about 0.02% of company’s outstanding stock.

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