Is InMed Pharmaceuticals Inc (NASDAQ: INM) Stock Set To Rise More?

In the last trading session, 1.43 million InMed Pharmaceuticals Inc (NASDAQ:INM) shares changed hands as the company’s beta touched 0.89. With the company’s per share price at $0.45 changed hands at $0.05 or 13.43% during last session, the market valuation stood at $1.51M. INM’s last price was a discount, traded about -928.89% off its 52-week high of $4.63. The share price had its 52-week low at $0.36, which suggests the last value was 20.0% up since then. When we look at InMed Pharmaceuticals Inc’s average trading volume, we note the 10-day average is 0.28 million shares, with the 3-month average coming to 1.71 million.

Analysts gave the InMed Pharmaceuticals Inc (INM) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.00. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended INM as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. InMed Pharmaceuticals Inc’s EPS for the current quarter is expected to be $iShares Russell 2000 ETF.

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InMed Pharmaceuticals Inc (NASDAQ:INM) trade information

Instantly INM was in green as seen at the end of in last trading. With action 16.20%, the performance over the past five days has been green. The jump to weekly highs of 0.5190 on Friday, 11/17/23 added 13.43% to the stock’s daily price. The company’s shares are showing year-to-date downside of -77.62%, with the 5-day performance at 16.20% in the green. However, in the 30-day time frame, InMed Pharmaceuticals Inc (NASDAQ:INM) is -24.67% down. Looking at the short shares, we see there were 18880.0 shares sold at short interest cover period of 0 days.

The consensus price target for the stock as assigned by Wall Street analysts is $20.00, meaning bulls need an upside of 97.75% from its current market value. According to analyst projections, INM’s forecast low is $20.00 with $20.00 as the target high. To hit the forecast high, the stock’s price needs a -4344.44% plunge from its current level, while the stock would need to soar -4344.44% for it to hit the projected low.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 39.17%.

INM Dividends

InMed Pharmaceuticals Inc is expected to release its next quarterly earnings report between November 09 and November 13.

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

If we look at who the major shareholders are, we find that insiders hold 0.15% of InMed Pharmaceuticals Inc shares while 3.03% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 3.04%. There are 3.03% institutions holding the InMed Pharmaceuticals Inc stock share, with Susquehanna International Group, LLP the top institutional holder. As of Jun 29, 2023, the company held 0.41% of the shares, roughly 13672.0 INM shares worth $12667.0.

Bank of America Corporation holds the second largest percentage of outstanding shares, with 0.06% or 1834.0 shares worth $1699.0 as of Jun 29, 2023.

With 556.0 shares estimated at $745.0 under it, the former controlled 0.02% of total outstanding shares.

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