In a recently released analyst research report, Roth Capital Partners‘ Managing Director and Senior Research Analyst, Jerry Isaacson, Ph.D., just initiated coverage on shares of pre-clinical stage cannabinoid biopharmaceutical company InMed Pharmaceuticals Inc. (TSX:IN) (OTC:IMLFF) with a buy rating and a lofty price target.
Jerry Isaacson’s initial price target of $1.10 CAD per share implies a potential upside of approximately 83.33% based on the last traded price of $0.60 CAD per share of IN on the Toronto Stock Exchange, a.k.a. TSX.
This initiation of coverage comes just days after the company provided ashareholder update regardingits drug development program for the treatment of Epidermolysis Bullosa.
Why Isaacson is Bullish on InMed Pharma
According to TheFly, “Roth Capital analyst Jerry Isaacson started InMed Pharmaceuticals with a Buy rating and C$1.10 price target. The company is developing a bacterial platform for the biosynthesis of medically relevant cannabinoids as well as a portfolio of cannibinoid treatments for diseases with “high unmet medical need,” Isaacson tells investors in a research note. He believes InMed’s platform has the potential to deliver some natural cannabinoids in cost-effective quantities for clinical and commercial development.”
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