▲ +173.81% Upside Potential
This price target is based on 1 analysts offering 12 month price targets for InMed Pharmaceuticals in the last 3 months. The average price target is $11.50, with a high forecast of $11.50 and a low forecast of $11.50. The average price target represents a 173.81% upside from the last price of $4.20.
The current consensus among 1 contributing investment analysts is to buy stock in InMed Pharmaceuticals.
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 orofacial pain. In addition, it engages in the development of cannabinoid-based treatments for various diseases, including dermatology and ocular diseases. Further, the company works on IND-enabling pharmacology and preclinical toxicology studies. It has a research collaboration agreement with BayMedica Inc. for the manufacturing and testing of novel cannabinoid therapeutics. The company was formerly known as Cannabis Technologies Inc. and changed its name to InMed Pharmaceuticals Inc. in October 2014. InMed Pharmaceuticals Inc. was incorporated in 1981 and is based in Vancouver, Canada.