InMed Pharmaceuticals Inc. (INM) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does InMed Pharmaceuticals Inc. Do?
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 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; and IntegraSyn, an integrated biosynthesis-based manufacturing approach, for synthesizing pharmaceutical-grade cannabinoids. 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 headquartered in Vancouver, Canada. InMed Pharmaceuticals Inc. (INM) is classified as a micro-cap stock in the Healthcare sector, specifically within the Pharmaceutical Products industry. The company is led by CEO Eric A. Adams and employs approximately 10 people. With a market capitalization of $2M, INM is one of the notable companies in the Healthcare sector.
InMed Pharmaceuticals Inc. (INM) Stock Rating — Avoid (April 2026)
As of April 2026, InMed Pharmaceuticals Inc. receives a Avoid rating with a composite score of 21.3/100 and 1 out of 5 stars from the Blank Capital Research quantitative model.INM ranks #4,384 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, InMed Pharmaceuticals Inc. ranks #818 of 838 stocks, placing it in the lower half of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
INM Stock Price and 52-Week Range
InMed Pharmaceuticals Inc. (INM) currently trades at $0.72. The stock gained $0.07 (11.1%) in the most recent trading session. Recent trading volume was 41K shares, suggesting relatively thin trading activity.
Is INM Overvalued or Undervalued? — Valuation Analysis
InMed Pharmaceuticals Inc. (INM) carries a value factor score of 11/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 0.21x, versus the sector average of 2.75x. The price-to-sales ratio is 0.46x, compared to 1.66x for the average Healthcare stock.
At current multiples, InMed Pharmaceuticals Inc. trades at a premium to most Healthcare peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.
InMed Pharmaceuticals Inc. Profitability — ROE, Margins, and Quality Score
InMed Pharmaceuticals Inc. (INM) earns a quality factor score of 19/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -88.1%, compared to the Healthcare sector average of -43.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -75.5% versus the sector average of -33.1%.
On a margin basis, InMed Pharmaceuticals Inc. reports gross margins of 28.5%, compared to 71.5% for the sector. The operating margin is -126.2% (sector: -66.1%). Net profit margin stands at -200.3%, versus -58.7% for the average Healthcare stock. Revenue growth is running at -35.1% on a trailing basis, compared to 10.6% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.
INM Debt, Balance Sheet, and Financial Health
InMed Pharmaceuticals Inc. has a debt-to-equity ratio of 17.0%, compared to the Healthcare sector average of 32.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 5.94x, indicating strong short-term liquidity.
INM has a beta of 1.14, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for InMed Pharmaceuticals Inc. is 20/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.
InMed Pharmaceuticals Inc. Revenue and Earnings History — Quarterly Trend
In TTM 2026, InMed Pharmaceuticals Inc. reported revenue of $4M and earnings per share (EPS) of $-0.51. Net income for the quarter was $-8M. Gross margin was 28.5%. Operating income came in at $-5M.
In Q2 2026, InMed Pharmaceuticals Inc. reported revenue of $820,188 and earnings per share (EPS) of $-0.51. Net income for the quarter was $-2M. Gross margin was 22.5%. Revenue grew -26.2% year-over-year compared to Q2 2025. Operating income came in at $-1M.
In Q1 2026, InMed Pharmaceuticals Inc. reported revenue of $1M and earnings per share (EPS) of $-0.44. Net income for the quarter was $-2M. Gross margin was 36.0%. Revenue grew -11.4% year-over-year compared to Q1 2025. Operating income came in at $-1M.
In FY 2025, InMed Pharmaceuticals Inc. reported revenue of $5M and earnings per share (EPS) of $-8.36. Net income for the quarter was $-8M. Gross margin was 34.5%. Revenue grew 7.5% year-over-year compared to FY 2024. Operating income came in at $-5M.
Over the past 8 quarters, InMed Pharmaceuticals Inc. has experienced revenue contraction from $5M to $4M. Investors analyzing INM stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
INM Dividend Yield and Income Analysis
InMed Pharmaceuticals Inc. (INM) does not currently pay a dividend. This is common among smaller companies in the Pharmaceutical Products industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.
INM Momentum and Technical Analysis Profile
InMed Pharmaceuticals Inc. (INM) has a momentum factor score of 10/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 38/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 55/100 reflects moderate short selling activity.
INM vs Competitors — Healthcare Sector Ranking and Peer Comparison
Within the Healthcare sector, InMed Pharmaceuticals Inc. (INM) ranks #818 out of 838 stocks based on the Blank Capital composite score. This places INM in the lower half of all Healthcare stocks in our coverage universe. Key competitors and sector peers include ASTRAZENECA PLC (AZN) with a score of 61.4/100, Sol-Gel Technologies Ltd. (SLGL) with a score of 56.6/100, VIEMED HEALTHCARE, INC. (VMD) with a score of 53.4/100, Innoviva, Inc. (INVA) with a score of 52.7/100, and JOHNSON & JOHNSON (JNJ) with a score of 51.7/100.
Comparing INM against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full INM vs S&P 500 (SPY) comparison to assess how InMed Pharmaceuticals Inc. stacks up against the broader market across all factor dimensions.
INM Next Earnings Date
No upcoming earnings date has been announced for InMed Pharmaceuticals Inc. (INM) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy INM? — Investment Thesis Summary
The quantitative profile for InMed Pharmaceuticals Inc. suggests caution. The quality score of 19/100 flags below-average profitability. The value score of 11/100 indicates premium valuation. Momentum is weak at 10/100, a headwind for near-term performance. High volatility (stability score 20/100) increases portfolio risk.
In summary, InMed Pharmaceuticals Inc. (INM) earns a Avoid rating with a composite score of 21.3/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on INM stock.
Related Resources for INM Investors
Explore more research and tools: INM vs S&P 500 comparison, top Healthcare stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare INM head-to-head with peers: INM vs AZN, INM vs SLGL, INM vs VMD.