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

Stock analysts at Wedbush began coverage on shares of Mentari Therapeutics (NASDAQ:MTRI) in a note issued to investors on Friday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $33.00 price target on the stock. Wedbush‘s price target suggests a potential upside of 76.09% from the company’s current price.

A number of other brokerages also recently commented on MTRI. Jefferies Financial Group began coverage on shares of Mentari Therapeutics in a research note on Tuesday, November 10th. They set a “buy” rating and a $30.00 target price on the stock. Guggenheim began coverage on shares of Mentari Therapeutics in a report on Monday, November 9th. They issued a “strong-buy” rating on the stock. Zacks Research assumed coverage on shares of Mentari Therapeutics in a research note on Wednesday. They issued a “hold” rating for the company. Stifel Nicolaus began coverage on shares of Mentari Therapeutics in a report on Tuesday, November 10th. They set a “buy” rating and a $30.00 price target for the company. Finally, TD Cowen began coverage on shares of Mentari Therapeutics in a research report on Wednesday. They set a “strong-buy” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.00.

Mentari Therapeutics Price Performance

Shares of MTRI stock traded up $0.39 on Friday, hitting $18.74. 11,941 shares of the stock traded hands, compared to its average volume of 24,901. Mentari Therapeutics has a twelve month low of $5.75 and a twelve month high of $23.30.

Insider Activity

In other Mentari Therapeutics news, major shareholder Adar1 Capital Management, Llc acquired 2,640 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was purchased at an average cost of $13.10 per share, with a total value of $34,584.00. Following the transaction, the insider owned 98,297 shares of the company’s stock, valued at $1,287,690.70. This trade represents a 2.76% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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.