Guggenheim Begins Coverage on Mentari Therapeutics (NASDAQ:MTRI)

Guggenheim began coverage on shares of Mentari Therapeutics (NASDAQ:MTRI) in a note issued to investors on Monday, Zacks reports. The firm set a “strong-buy” rating on the stock.

Other analysts have also issued research reports about the company. Stifel Nicolaus started coverage on Mentari Therapeutics in a report on Tuesday. They set a “buy” rating and a $30.00 target price on the stock. Jefferies Financial Group started coverage on Mentari Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $30.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat, Mentari Therapeutics presently has a consensus rating of “Buy” and an average price target of $30.00.

Mentari Therapeutics Stock Down 23.8%

Mentari Therapeutics stock opened at $12.20 on Monday. Mentari Therapeutics has a one year low of $5.75 and a one year high of $23.30.

Insider Buying and Selling at Mentari Therapeutics

In other news, major shareholder Adar1 Capital Management, Llc acquired 2,640 shares of the stock in a transaction dated Thursday, November 5th. The shares were bought at an average cost of $13.10 per share, for a total transaction of $34,584.00. Following the purchase, the insider directly owned 98,297 shares of the company’s stock, valued at approximately $1,287,690.70. This trade represents a 2.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.85% of the stock is owned by corporate insiders.

About Mentari Therapeutics

InMed Pharmaceuticals Inc., a clinical stage pharmaceutical company, researches and develops cannabinoid-based therapies. The company’s lead product is INM-755, a cannabinol topical cream, which is in a second Phase I clinical trials for the treatment of epidermolysis bullosa. The company is also involved in developing INM-088, which is in preclinical studies for the treatment of glaucoma; and INM-405 for the treatment of pain. In addition, it engages in the development of cannabinoid-based treatments for various diseases, including dermatology and ocular diseases.