InMed Pharmaceuticals Inc. (INM) AI Stock Analysis
INM AI stock analysis summary
AI ResearchInMed Pharmaceuticals Inc. is a clinical-stage pharmaceutical company developing cannabinoid-based therapies and commercial manufacturing technologies. For FY2026, the company reported revenue of $3.18B alongside a net income of -$12.6M. With a market capitalization of $7.3M, the stock trades at $1.32 as of October 16, 2026.
- Market cap
- $7.3M
- Revenue (TTM)
- $4.9M
- P/E
- —
- 1Y return
- -36.5% S&P 500 16.8%
- Avg. target
- $20.00 1415.2% vs last close
Bull case
- InMed delivered a 4-year revenue CAGR of 634.8% from FY2022 to FY2026, reaching $3.18B in FY2026 revenue.
- Wall Street analysts maintain a mean price target of $20.00, which is 1415.2% above the last close of $1.32.
- The company outperformed consensus expectations by beating EPS estimates in 3 of the last 4 quarters.
Bear case
- Operating cash flow and free cash flow were -$8.64B in FY2026, while cash and short-term investments totaled just $2.2M as of June 30, 2026.
- InMed reported negative profitability in FY2026 with net income of -$12.6M and an EPS of -$3.12.
- The company expanded its share count by 15688.1% over 5 years, contributing to a 5-year share price decline of 99.8%.
What InMed Pharmaceuticals does
InMed Pharmaceuticals Inc. is a clinical-stage pharmaceutical company headquartered in Vancouver, Canada, operating through two segments: InMed and BayMedica. The InMed segment researches and develops cannabinoid-based pharmaceuticals targeting diseases with significant unmet medical needs. Its clinical programs include INM-755, a cannabinol topical skin cream in Phase 2 trials for epidermolysis bullosa, INM-088 in preclinical studies for glaucoma, and INM-405 for pain management. The BayMedica segment leverages proprietary technologies to manufacture and distribute rare cannabinoids for the health and wellness industry. InMed also offers IntegraSyn, an integrated biosynthesis platform for producing pharmaceutical-grade cannabinoids.
Growth and profitability
InMed expanded annual revenue from $1.1M in FY2022 to $4.1M in FY2023, $4.6M in FY2024, and $4.9M in FY2025. In FY2026, revenue was reported at $3.18B, reflecting revenue growth of 64167.3% and a 4-year revenue CAGR of 634.8%. Gross margin stood at 22.3% in FY2026, down from 34.5% in FY2025 and 49.9% in FY2022. Operating margin was -0.3% in FY2026, improving from -160.2% in FY2025. Annual net income was -$12.6M in FY2026, resulting in diluted EPS of -$3.12. For the latest quarter ended June 30, 2026, quarterly revenue growth fell 26.2% year-over-year, while TTM revenue reached $4.9M.
Balance sheet and cash flow
As of June 30, 2026, InMed held $2.2M in cash and short-term investments, with total assets of $3.0M and shareholders' equity of $1.1M. The company maintained a current ratio of 1.37. In FY2026, operating cash flow and free cash flow were both -$8.64B, while research and development expenses were $15.1M. Capital expenditures were $3 during the year, and dividends paid totaled $431.7M. Additionally, the company recorded a 5-year share count change of 15688.1%.
Valuation and performance
At a market capitalization of $7.3M and an enterprise value of $5.4M, InMed trades at a price-to-sales ratio of 0.9x and an EV-to-EBITDA multiple of 0.5x. These multiples sit below the US-listed Healthcare median price-to-sales ratio of 4.1x and EV-to-EBITDA of 12.0x, while its price-to-book ratio is 7.1x. Over the past year, INM stock returned -36.5%, lagging the S&P 500 (SPY) return of 16.8%. Over a 5-year period, the stock delivered a return of -99.8%, compared to an 83.0% return for the benchmark index.
What analysts expect
Wall Street analysts track InMed with a mean price target of $20.00, representing an upside of 1415.2% over its last close of $1.32. For the next fiscal year, consensus models anticipate revenue of $71.0M, representing estimated revenue growth of 948.7%, alongside an EPS estimate of $0.00. The company beat EPS expectations in 3 of the last 4 quarters. InMed is scheduled to report its next earnings on November 5, 2026.
Key risks and what to watch
- Liquid reserves stood at $2.2M as of June 30, 2026, against total assets of $3.0M.
- For the latest quarter ended June 30, 2026, quarterly revenue fell 26.2% year-over-year.
- The stock underperformed the broader market with a 1-year return of -36.5% compared to 16.8% for the S&P 500.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this INM AI stock analysis
This page is an AI-written research summary of InMed Pharmaceuticals Inc. (INM). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: INM income statement, INM balance sheet, INM key metrics, INM chart. See the INM stock overview for the latest quote and news.
INM AI stock analysis FAQ
What does InMed Pharmaceuticals do?
InMed Pharmaceuticals Inc. develops cannabinoid-based therapies for dermatological and ocular conditions, including Phase 2 candidate INM-755, and operates a commercial rare cannabinoid manufacturing segment called BayMedica.
What is InMed's valuation relative to peers?
InMed trades at a price-to-sales multiple of 0.9x and an EV-to-revenue ratio of 0.5x, below the US-listed Healthcare median price-to-sales of 4.1x.
When is InMed's next earnings report?
The company is scheduled to release its next financial results on November 5, 2026.
What is the consensus price target for INM stock?
Analysts have established a mean price target of $20.00, representing a potential increase of 1415.2% from the stock's closing price of $1.32 on October 16, 2026.