InMed Pharmaceuticals (NASDAQ:INM) Trading 2.6% Higher – Time to Buy?

Shares of InMed Pharmaceuticals Inc. (NASDAQ:INM) rose 2.6% during mid-day trading on Thursday . The company traded as high as $2.80 and last traded at $2.76. Approximately 11,882 shares were traded during mid-day 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 has a current ratio of 3.05, a quick ratio of 2.44 and a debt-to-equity ratio of 0.09. The company has a market cap of $3.30 million, a PE ratio of -0.20 and a beta of 0.18. The business’s 50-day simple moving average is $3.74 and its 200-day simple moving average is $4.69.

InMed Pharmaceuticals (NASDAQ:INM) last released its earnings results on Wednesday, February 12th. The company reported ($3.64) earnings per share (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.