InMed Pharmaceuticals (NASDAQ:INM) Stock Price Up 2.6% – Time to Buy?

InMed Pharmaceuticals Inc. (NASDAQ:INM) shares rose 2.6% during trading on Thursday . The stock traded as high as $2.80 and last traded at $2.76. Approximately 11,882 shares traded hands during trading, a decline of 98% from the average daily volume of 684,658 shares. The stock had previously closed at $2.69.

InMed Pharmaceuticals Trading Down 1.1 %

The company’s 50 day moving average price is $3.74 and its 200 day moving average price is $4.69. The company has a market cap of $3.30 million, a price-to-earnings ratio of -0.20 and a beta of 0.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.44 and a current ratio of 3.05.

InMed Pharmaceuticals (NASDAQ:INM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($3.64) EPS for the quarter. InMed Pharmaceuticals had a negative return on equity of 90.74% and a negative net margin of 163.75%.

About InMed Pharmaceuticals

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.