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An update from InMed Pharmaceuticals ( (INM) ) is now available.
InMed Pharmaceuticals announced its participation in the H.C. Wainwright 27th Annual Global Investment Conference in New York, where it will engage with investors and present updates on its drug development pipeline. The presentation will feature recent data from InMed’s leading program, INM-901, aimed at treating Alzheimer’s disease, highlighting the company’s advancements and potential impact on addressing unmet medical needs in the pharmaceutical industry.
The most recent analyst rating on (INM) stock is a Sell with a $2.50 price target. To see the full list of analyst forecasts on InMed Pharmaceuticals stock, see the INM Stock Forecast page.
Spark’s Take on INM Stock
According to Spark, TipRanks’ AI Analyst, INM is a Underperform.
InMed Pharmaceuticals’ overall stock score is primarily hindered by its financial performance and valuation concerns. The persistent operational losses and negative cash flows are significant risks. Technical analysis indicates a mildly bearish to neutral trend. The recent $5M private placement is a positive development, but it does not outweigh the broader financial challenges.
To see Spark’s full report on INM stock, click here.
More about InMed Pharmaceuticals
InMed Pharmaceuticals is a pharmaceutical company that focuses on developing a pipeline of proprietary small molecule drug candidates targeting the CB1/CB2 receptors. The company’s pipeline includes programs for treating Alzheimer’s, ocular, and dermatological conditions.
Average Trading Volume: 1,903,657
Technical Sentiment Signal: Sell
Current Market Cap: $4.18M
See more insights into INM stock on TipRanks’ Stock Analysis page.