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InnoCan Pharma ( (TSE:INNO) ) has provided an update.
Innocan Pharma’s presentation on its Liposomal Synthetic CBD Technology at the PAINWeek conference generated significant interest among participants, highlighting the potential of LPT-CBD as a breakthrough in chronic pain management. The presentation emphasized the limitations of plant-derived CBD oils and showcased preclinical data supporting the prolonged pain relief capabilities of LPT-CBD, marking a promising advancement in the field.
The most recent analyst rating on (TSE:INNO) stock is a Hold with a C$12.00 price target. To see the full list of analyst forecasts on InnoCan Pharma stock, see the TSE:INNO Stock Forecast page.
Spark’s Take on TSE:INNO Stock
According to Spark, TipRanks’ AI Analyst, TSE:INNO is a Neutral.
InnoCan Pharma’s overall stock score is primarily impacted by its weak financial performance, characterized by declining revenues, negative profitability, and cash flow issues. The technical analysis suggests bearish momentum, further weighing on the score. The valuation is unattractive due to a negative P/E ratio and lack of dividend yield, contributing to the low overall score.
To see Spark’s full report on TSE:INNO stock, click here.
More about InnoCan Pharma
Innocan Pharma is an innovator in the pharmaceuticals and wellness sectors, developing a CBD-loaded liposome drug delivery platform for non-opioid pain management and a portfolio of self-care and beauty products. The company focuses on advanced online sales through its subsidiary BI Sky Global Ltd.
YTD Price Performance: -12.09%
Average Trading Volume: 1,235
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$53.99M
Learn more about INNO stock on TipRanks’ Stock Analysis page.