2026-10-04
Incannex Healthcare clears the business-activity screen and the figures we can measure look clean, but one or more financial figures are still pending, so the verdict is not final yet.
NAS100 30,808 +1.00%
S&P 7,723 +0.73%
GOLD $4,196 +0.81%
BTC $86,156 −0.37%
VIX 16.35 +6.79%
live tape · as of 09:01 UTC
The Screen · Healthcare · Drug Manufacturers - Specialty & Generic
Incannex Healthcare Inc
IXHL · NASDAQ · USD · Market cap $38M · 12 employees
Incannex Healthcare Inc., a clinical-stage biopharmaceutical company, engages in the research and development of psychedelic medicines and therapies for patients with chronic diseases in Australia.
Not yet scored3.49 USD
Screen close, 2025-06-30 · not a live quote
Last reviewed 462 days ago
Screened 2025-06-30 · the tape above runs as of 09:01 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 3.49 against the desk's fair-value range, over the last year.
- Trend Accumulation
- Insiders no filings inside 60 days, left as found
- Positioning no disclosures inside 60 days, left as found
- Options no verdict drawn today, left as found
- Ethical screen not yet scored
Price3.49 USD
Ethical score70.0/100
Our investment reviews on this name
2026-10-02Read Markdown3.49+0.0% to today
2026-09-02Read Accumulation3.17+10.1% to today ✓
2026-07-02Read Markdown3.83-8.9% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
The full research record, in depth, below
This name holds its accumulation label.
Incannex Healthcare Inc holds its Accumulation at $3.49. The statistical read favours the sellers, held for 38 days.
| Phase | Accumulation |
| Quantitative state | The statistical read favours the sellers, held for 38 days |
| Price at the screen | $3.49 |
| Valuation | N/A trailing · -1.89 forward price to earnings |
| Values screen | Not scored · score 70.0 |
| Beta | 2.79 |
Five Screens, Shown in Full
This security has not been fully scored against the values screen yet.
| Test | Figure | Limit | What it means | Status |
|---|---|---|---|---|
| Business activity | Permissible | Core business clean | Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending. | Pass |
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical ReadThe Read, in Plain English
Incannex Healthcare clears the business-activity screen and the figures we can measure look clean, but one or more financial figures are still pending, so the verdict is not final yet.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
2026-09-24
We do not yet have the financial statements needed to run the debt, cash, receivables and income screens for Incannex Healthcare, so it is not scored yet.
Earlier reads, kept as written. The ethical profile is tracked over time, not overwritten.
What the Numbers Say It Is WorthThe Fair Value Range
Price History & ProjectionsWhere it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2025-06-30 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words| Forward P/E | -1.9x |
| EPS, trailing | -16.62 |
| EPS, forward | -1.68 |
| Profit margin | 0.0%currently unprofitable |
| Return on equity | -117.2%not currently earning a positive return on equity |
| FCF yield | -21.81% |
| Debt to equity | 0.15minimal debt: a conservative balance sheet |
| Current ratio | 41.57comfortably covers its short-term bills |
| Beta | 2.79much more volatile than the market |
| Short interest, float | 0.04% |
| 52-week range | 2.49 - 49.80 |
| Moat | NONE |
| Market cap | $38M |
| Employees | 12 |
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it already moves more than the market on an average day; its business and earnings are exposed to Australia and to currency swings; as a drug manufacturers - specialty & generic name, trial and regulatory outcomes can move it sharply either way.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to TradeIXHL trades on NASDAQ (the company is based in Australia). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
Every Entry, As Written
2026-10-02
Markdown · changed $3.49
+10.1% Entry 6
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 10.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 40%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (1 analysts) rates it strong buy, with a mean price target of $18.
2026-09-02
Accumulation · changed $3.17
+0.0% Entry 5
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 40%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (1 analysts) rates it strong buy, with a mean price target of $18.
2026-08-03
Markdown $3.17
-17.2% Entry 4
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 17.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 40%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (1 analysts) rates it strong buy, with a mean price target of $18.
2026-07-18
Markdown $3.83
+0.0% Entry 3
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 40%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (1 analysts) rates it strong buy, with a mean price target of $18.
2026-07-03
Markdown $3.83
+0.0% Entry 2
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02
Markdown $3.83
Entry 1
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
MRMDMariMed Inc.
ZYBTZhengye Biotechnology Holding Ltd
CPHIChina Pharma Holdings Inc
OPTHOptimi Health Corp
BTAIBioXcel Therapeutics Inc
PROCFSofgen Pharma S.A.
Screened names in the same industry · explore each on its own page.
| Period | Price then | Price return | Divs per share | $1,000 became | Total return |
|---|---|---|---|---|---|
| 1 month | $4.53 | -15.9% | · | $841 | -15.9% |
| 2 months | $3.12 | +22.1% | · | $1,221 | +22.1% |
| 3 months | $3.08 | +23.7% | · | $1,237 | +23.7% |
| 6 months | $12.24 | -68.9% | · | $311 | -68.9% |
| 1 year | $6.36 | -40.1% | · | $599 | -40.1% |
| 2 years | $100.80 | -96.2% | · | $38 | -96.2% |
| 3 years | $230.40 | -98.4% | · | $17 | -98.4% |
Historical returns from market close data. Past performance does not guarantee future results.
This entry now belongs to the ledger. Whatever IXHL does next, these words stay.
Membership
Thirteen thousand names carry this page. One desk keeps them honest.
Membership opens the full screen archive, the composites built from it, and the daily coverage that prices what the screen approves.
Join the deskScreening is research, not a fatwa and not financial advice. Figures are drawn from public accounts at the screen date shown. Always manage your risk.