Mentari Therapeutics (NASDAQ:MTRI) Now Covered by Analysts at Wedbush

Equities researchers at Wedbush initiated coverage on shares of Mentari Therapeutics (NASDAQ:MTRI) in a research note issued to investors on Friday, Benzinga reports. The brokerage set an “outperform” rating and a $33.00 price target on the stock. Wedbush‘s target price points to a potential upside of 79.84% from the company’s previous close.

MTRI has been the topic of several other reports. TD Cowen began coverage on Mentari Therapeutics in a report on Wednesday. They issued a “strong-buy” rating on the stock. Stifel Nicolaus initiated coverage on Mentari Therapeutics in a report on Tuesday. They issued a “buy” rating and a $30.00 target price for the company. Guggenheim assumed coverage on Mentari Therapeutics in a research note on Monday. They issued a “strong-buy” rating for the company. 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. Finally, Zacks Research assumed coverage on Mentari Therapeutics in a research report on Wednesday. They set a “hold” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $31.00.

Mentari Therapeutics Price Performance

Shares of NASDAQ MTRI opened at $18.35 on Friday. Mentari Therapeutics has a twelve month low of $5.75 and a twelve month high of $23.30.

Insider Activity

In other news, major shareholder Adar1 Capital Management, Llc bought 2,640 shares of the business’s stock in a transaction dated Thursday, November 5th. The shares were acquired at an average price of $13.10 per share, for a total transaction of $34,584.00. Following the completion of the transaction, the insider 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.85% of the company’s stock.

Mentari Therapeutics Company Profile

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.