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

Zacks Research assumed coverage on shares of Mentari Therapeutics (NASDAQ:MTRI) in a research report sent to investors on Wednesday morning,Zacks reports. The firm issued a hold rating on the stock.

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

Mentari Therapeutics Price Performance

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

Insider Activity at Mentari Therapeutics

In other news, major shareholder Adar1 Capital Management, Llc purchased 2,640 shares of the stock in a transaction dated Thursday, November 5th. The stock was acquired at an average cost of $13.10 per share, for a total transaction of $34,584.00. Following the completion of the transaction, the insider directly owned 98,297 shares in the company, valued at approximately $1,287,690.70. This represents a 2.76% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.85% of the stock is currently 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.