Incannex Healthcare (NASDAQ:IXHL) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Incannex Healthcare (NASDAQ:IXHL) from a hold rating to a sell rating in a report released on Saturday,Wall Street Zen reports.

A number of other research analysts have also commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Incannex Healthcare in a report on Friday, July 17th. Alliance Global Partners began coverage on Incannex Healthcare in a report on Monday, June 8th. They issued a “buy” rating and a $18.00 target price for the company. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Incannex Healthcare presently has an average rating of “Hold” and a consensus target price of $18.00.

Incannex Healthcare Price Performance

IXHL stock opened at $3.21 on Friday. The company has a market capitalization of $40.29 million, a price-to-earnings ratio of -1.90 and a beta of 6.97. The firm has a 50 day moving average of $3.31 and a two-hundred day moving average of $3.44. Incannex Healthcare has a 12 month low of $2.49 and a 12 month high of $14.93.

Incannex Healthcare (NASDAQ:IXHL) last posted its earnings results on Friday, September 25th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.27). On average, research analysts expect that Incannex Healthcare will post -2.63 EPS for the current fiscal year.

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.