Incannex Healthcare (NASDAQ:IXHL – Get Free Report) announced its quarterly earnings results on Friday. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.27), Zacks reports.
Incannex Healthcare Stock Down 2.4%
IXHL opened at $3.32 on Friday. Incannex Healthcare has a 12-month low of $2.49 and a 12-month high of $19.71. The business has a 50 day moving average of $3.30 and a 200-day moving average of $3.47. The stock has a market cap of $39.74 million, a price-to-earnings ratio of -2.14 and a beta of 6.97.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on IXHL shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Incannex Healthcare in a report on Friday, July 17th. Alliance Global Partners initiated coverage on shares of Incannex Healthcare in a research report on Monday, June 8th. They issued a “buy” rating and a $18.00 price objective for the company. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.00.
About Incannex Healthcare
Incannex Healthcare Limited (NASDAQ: IXHL) is a clinical-stage biotechnology company developing pharmaceutical products and therapies for conditions with significant unmet medical needs. The company’s research focuses on cannabinoid- and psychedelic-assisted treatments, with programs addressing sleep-disordered breathing, pain, inflammation, mental health and other complex disorders.
One of Incannex’s principal programs is IHL-42X, an investigational combination of dronabinol and acetazolamide being developed for obstructive sleep apnea.
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