Zacks: Brokerages Expect InMed Pharmaceuticals Inc. (NASDAQ:INM) Will Announce Quarterly Sales of $430,000.00

Wall Street brokerages expect InMed Pharmaceuticals Inc. (NASDAQ:INMGet Rating) to report sales of $430,000.00 for the current quarter, Zacks reports. Two analysts have provided estimates for InMed Pharmaceuticals’ earnings, with estimates ranging from $250,000.00 to $600,000.00. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that InMed Pharmaceuticals will report full-year sales of $1.21 million for the current year, with estimates ranging from $550,000.00 to $1.87 million. For the next financial year, analysts expect that the company will post sales of $3.75 million, with estimates ranging from $2.50 million to $5.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover InMed Pharmaceuticals.

InMed Pharmaceuticals (NASDAQ:INMGet Rating) last announced its quarterly earnings data on Monday, February 14th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.07). The company had revenue of $0.27 million during the quarter, compared to the consensus estimate of $0.25 million. During the same period in the prior year, the business posted ($0.37) earnings per share.

Several analysts have weighed in on the company. Zacks Investment Research downgraded InMed Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, January 20th. Roth Capital reissued a “buy” rating on shares of InMed Pharmaceuticals in a research note on Tuesday, February 15th.

INM stock traded up $0.05 during mid-day trading on Monday, reaching $0.93. 44,132 shares of the company traded hands, compared to its average volume of 124,329. The company has a market capitalization of $13.11 million, a P/E ratio of -0.67 and a beta of -0.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.71 and a quick ratio of 2.49. The company has a fifty day moving average price of $0.92 and a 200-day moving average price of $1.26. InMed Pharmaceuticals has a 52-week low of $0.65 and a 52-week high of $3.86.

A hedge fund recently bought a new stake in InMed Pharmaceuticals stock. Renaissance Technologies LLC purchased a new position in shares of InMed Pharmaceuticals Inc. (NASDAQ:INMGet Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 44,200 shares of the company’s stock, valued at approximately $58,000. Renaissance Technologies LLC owned about 0.31% of InMed Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 3.97% of the company’s stock.

About InMed Pharmaceuticals (Get Rating)

InMed Pharmaceuticals Inc, a clinical stage pharmaceutical company, researches and develops cannabinoid-based therapies. The company's lead product is INM-755, a cannabinol topical cream, which is in a second Phase I clinical trials for the treatment of epidermolysis bullosa. The company is also involved in developing INM-088, which is in preclinical studies for the treatment of glaucoma; and INM-405 for the treatment of pain.

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