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Incannex Healthcare's (IXHL) Sell (E+) Rating Reiterated at Weiss Ratings

Incannex Healthcare logo with Medical background

Key Points

  • Incannex Healthcare (NASDAQ:IXHL) has had its "sell (e+)" rating reiterated by Weiss Ratings, reflecting ongoing concerns about its stock performance.
  • Despite the sell rating, Wall Street Zen recently upgraded Incannex Healthcare to a "hold" rating, indicating mixed sentiments among analysts regarding the company's prospects.
  • As of the latest market data, Incannex Healthcare's shares opened at $0.43, with a market cap of $150.35 million and a year high of $3.12.
  • MarketBeat previews the top five stocks to own by November 1st.

Incannex Healthcare (NASDAQ:IXHL - Get Free Report)'s stock had its "sell (e+)" rating reissued by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen raised shares of Incannex Healthcare to a "hold" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of "Sell".

Read Our Latest Report on IXHL

Incannex Healthcare Price Performance

Shares of NASDAQ IXHL opened at $0.43 on Wednesday. The company has a market cap of $150.35 million, a P/E ratio of -0.36 and a beta of 7.50. Incannex Healthcare has a 1 year low of $0.08 and a 1 year high of $3.12. The firm has a 50-day simple moving average of $0.52 and a two-hundred day simple moving average of $0.45.

Hedge Funds Weigh In On Incannex Healthcare

A hedge fund recently raised its stake in Incannex Healthcare stock. AdvisorShares Investments LLC boosted its stake in shares of Incannex Healthcare Inc. (NASDAQ:IXHL - Free Report) by 16.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 343,954 shares of the company's stock after buying an additional 48,920 shares during the period. AdvisorShares Investments LLC owned 1.17% of Incannex Healthcare worth $74,000 as of its most recent filing with the Securities & Exchange Commission. 0.43% of the stock is owned by institutional investors.

About Incannex Healthcare

(Get Free Report)

Incannex Healthcare Inc, a clinical stage pharmaceutical development company, engages in the research, development, and sale of medicinal cannabinoid and psychedelic pharmaceutical products and therapies. It develops products for the treatment of obstructive sleep apnoea (OSA), traumatic brain injury (TBI) and concussion, lung inflammation (ARDS, COPD, asthma, bronchitis), rheumatoid arthritis, inflammatory bowel disease, anxiety disorders, addiction disorders, pain, and other indications.

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