Mentari Therapeutics (NASDAQ:MTRI) Stock Picked Up by Analysts at Zacks Research

Analysts at Zacks Research initiated coverage on shares of Mentari Therapeutics (NASDAQ:MTRI) in a research report issued to clients and investors on Wednesday, Zacks reports. The brokerage set a “hold” rating on the stock.

MTRI has been the subject of a number of other research reports. Guggenheim assumed coverage on Mentari Therapeutics in a report on Monday. They issued a “strong-buy” rating for the company. TD Cowen initiated coverage on Mentari Therapeutics in a research note on Wednesday. They set a “strong-buy” rating on the stock. Stifel Nicolaus began coverage on Mentari Therapeutics in a research note on Tuesday. They set a “buy” rating and a $30.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on Mentari Therapeutics in a report on Tuesday. They set a “buy” rating and a $30.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Mentari Therapeutics currently has an average rating of “Buy” and a consensus price target of $30.00.

Mentari Therapeutics Price Performance

NASDAQ MTRI opened at $18.35 on Wednesday. Mentari Therapeutics has a fifty-two week low of $5.75 and a fifty-two week high of $23.30.

Insider Activity at Mentari Therapeutics

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

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.