Analyst Price Target is $45.00
▲ +2,413.97% 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 $45.00, with a high forecast of $45.00 and a low forecast of $45.00. The average price target represents a 2,413.97% upside from the last price of $1.79.
Current Consensus is
The current consensus among 1 polled investment analysts is to hold stock in InMed Pharmaceuticals. This rating has held steady since November 2022, when it changed from a Buy consensus rating.
InMed Pharmaceuticals Inc., a clinical stage pharmaceutical company, develops a pipeline of prescription-based products. The company operates through two segments, the InMed and the BayMedica. The InMed segment researches and develops cannabinoid-based pharmaceuticals products. The BayMedica segment develops proprietary manufacturing technologies to produce and sell rare cannabinoids for the health and wellness industry. The company's prescription-based products include rare cannabinoids and novel cannabinoid analogs for the treatment of diseases with high unmet medical needs. Its lead product is INM-755, a cannabinol topical skin cream, which is in Phase 2 clinical trial for the treatment of epidermolysis bullosa. The company is also developing INM-088, which is in preclinical studies for the treatment of glaucoma; INM-405 for the treatment of pain; and cannabinoid-based treatments for various diseases, including dermatology and ocular diseases. In addition, it offers IntegraSyn, an integrated biosynthesis-based manufacturing approach, for pharmaceutical-grade cannabinoids; and cannabichromene, cannabicitran, cannabidivarin, and tetrahydrocannabivarin. 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 headquartered in Vancouver, Canada.