What is Wall Street’s target price for InMed Pharmaceuticals Inc (INM) stock on Tuesday?
InvestorsObserver gives InMed Pharmaceuticals Inc (INM) an analyst rating of 73, meaning INM is ranked higher by analysts than 73% of stocks. The average price target for INM is $6 and analysts rate the stock as a strong buy.
Why are analyst ratings important?
Analysts know better than anyone the inner workings of the companies they follow, with the exception of the management of the companies. You can tell a lot about a company by studying the financial statements, but analysts ask questions on conference calls and understand the intricacies of each of the businesses they cover. Analysts understand how bad weather in any part of the world can disrupt supply chains or disrupt shopping habits. This allows traders to make decisions before a quarterly report that could be worse than expected.
InvestorsObserver aggregates the ratings of all analysts covering a given security, takes the average of these ratings, and then ranks the averages into percentiles. This provides a much better level of granularity than the three levels provided by traditional buy/hold/sell notations.
What’s going on with InMed Pharmaceuticals Inc stock today?
InMed Pharmaceuticals Inc (INM) stock is trading at $0.91 at 3:10 p.m. on Tuesday, April 5, down -$0.05, or -5.21% from the previous closing price of 0 $.96. The stock has traded between $0.91 and $0.99 so far today. Today, the volume is below average. So far, 95,243 shares have been traded against an average volume of 185,032 shares. Click here for the full InMed Pharmaceuticals Inc. stock report.
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