Does InMed Pharmaceuticals Inc. (INM) offer a good opportunity for investors?

InMed Pharmaceuticals Inc. (NASDAQ: INM) stock fell -10.00% on Friday to $0.36 against a previous-day closing price of $0.40. With 0.17 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.18 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.3880 whereas the lowest price it dropped to was $0.3500. The 52-week range on INM shows that it touched its highest point at $2.95 and its lowest point at $0.34 during that stretch. It currently has a 1-year price target of $3.40.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of INM was down-trending over the past week, with a drop of -3.64%, but this was down by -26.53% over a month. Three-month performance dropped to -56.09% while six-month performance fell -69.49%. The stock lost -85.66% in the past year, while it has lost -72.52% so far this year. A look at the trailing 12-month EPS for INM yields -1.37 with Next year EPS estimates of -0.49. For the next quarter, that number is -0.22. This implies an EPS growth rate of 30.30% for this year and 21.70% for next year.

Float and Shares Shorts:

At present, 14.15 million INM shares are outstanding with a float of 13.75 million shares on hand for trading. On Apr 28, 2022, short shares totaled 0.15 million, which was 1.04% higher than short shares on Mar 30, 2022. In addition to Mr. Eric A. Adams as the firm’s Pres, CEO & Director, Ms. Alexandra Diane-Janet Mancini serves as its Sr. VP of Clinical & Regulatory Affairs.

Institutional Ownership:

Through their ownership of 6.06% of INM’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of INM, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 7.60% stake in INM, the Nordea Invest Stabil Balanceret is the largest stakeholder. A total of 1,112,936 shares are owned by the mutual fund manager. The Fidelity Nasdaq Composite Index F, which owns about 0.10% of INM stock, is the second-largest Mutual Fund holder. It holds 13,905 shares valued at 6535.0. Blackstone Alternative Multi Stra holds 0.02% of the stake in INM, owning 3,000 shares worth 1410.0.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for INM since 1 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With INM analysts setting a high price target of $0.80 and a low target of $0.80, the average target price over the next 12 months is $0.80. Based on these targets, INM could surge 122.22% to reach the target high and rise by 122.22% to reach the target low. Reaching the average price target will result in a growth of 122.22% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. INM will report FY 2022 earnings on 09/22/2023. Analysts have provided yearly estimates in a range of -$0.98 being high and -$1.02 being low. For INM, this leads to a yearly average estimate of -$1.00. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. The surprise factor in the prior quarter was -$0.07. Based on analyst estimates, the high estimate for the next quarter is -$0.22 and the low estimate is -$0.22. The average estimate for the next quarter is thus -$0.22.

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