InMed Pharmaceuticals Inc
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Health Care : Biotechnology | Small Cap Growth
Based in CanadaCompany profile

InMed Pharmaceuticals Inc. is a pre-clinical-stage biopharmaceutical company. The Company specializes in the research and development of cannabinoid-based therapies combined with drug delivery systems. The Company operates through the segment of research and development of pharmaceutical cannabis based-therapies. The Company is working on two products, which include INM-750, for the treatment of Epidermolysis Bullosa (EB), and INM-085, for the treatment of Glaucoma. The INM-750 is a therapy developed for EB designed specifically to modulate disease activity and to alleviate symptoms. The INM-085 is designed as a dual-action cannabinoid ocular therapy. INM-085 is designed as a topical formulation to be administered directly to the eye. It is working on the development of several cannabinoid-based treatments for multiple diseases, including ocular, dermatology, cancer, inflammation, pain and arthritis disease areas. Its subsidiary is Biogen Sciences Inc. (BSI).

Closing Price
Day's Change
0.0234 (12.58%)
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(Heavy Day)

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UPDATE: Roku stock has quadrupled this year -- but RBC sees 30% upside

12:24 pm ET October 12, 2019 (MarketWatch)

By Emily Bary

Analyst says recent pullback makes the shares attractive once again

Roku Inc.'s stock has surged 300% so far this year, but RBC Capital Markets' Mark Mahaney is joining the chorus of analysts who argue that the shares have more room to run.

Though Mahaney moved to the sidelines on Roku (ROKU) over the summer, he turned bullish on the stock once again late on Thursday ( following a roughly 30% drop from the company's closing high notched in early September. That pullback creates an "attractive entry point" according to Mahaney, who raised his price target to $155 from $107. The new target implies 28% upside from current levels, taking into account Roku's 3.5% rise in Friday morning trading.

Opinion: Netflix stock has fallen 30% in 3 months but its valuation is still irrational (

Mahaney said Roku scores well in his "crucial combo" of revenue growth plus earnings before interest, tax, depreciation and amortization (Ebitda) margin, which he deems a useful way to evaluate small-capitalization internet companies. Though the company's Ebitda margin is projected to be slightly negative for the third quarter, Mahaney expects 46% revenue growth for the period, which would amount to a strong "crucial combo" score relative to peers.

Mahaney is also drawn to the company's positioning in the attractive streaming landscape, with a big opportunity to eat into TV ad dollars and benefit from the launches of new streaming services. As the market for streaming offerings becomes more fragmented, Roku should be able to lessen its reliance on YouTube, Inc.'s (AMZN) Prime Video, and Netflix Inc. (NFLX) He also sees potential for the company as it expands internationally and grows its Roku Channel (, a curated hub for ad-supported content.

Don't miss: Why Roku thinks Apple and Disney will give the streaming platform a big boost (

RBC's move to the bull camp isn't particularly unusual. Of the 17 analysts tracked by FactSet who cover Roku's stock, 12 have buy ratings, three have hold ratings, and two rate the stock at sell. The average price target on FactSet is $134.94, dragged down by bearish targets as low as $60.

Roku shares have fallen 19% over the past month, as the S&P 500 has dropped 0.6%.

-Emily Bary; 415-439-6400;

(END) Dow Jones Newswires

October 12, 2019 12:24 ET (16:24 GMT)

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