Zacks Research Initiates Coverage on Mentari Therapeutics (NASDAQ:MTRI)

Investment analysts at Zacks Research began coverage on shares of Mentari Therapeutics (NASDAQ:MTRI) in a research report issued on Wednesday, Zacks reports. The brokerage set a “hold” rating on the stock.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group began coverage on shares of Mentari Therapeutics in a research note on Tuesday. They set a “buy” rating and a $30.00 target price on the stock. TD Cowen started coverage on shares of Mentari Therapeutics in a research note on Wednesday. They issued a “strong-buy” rating for the company. Stifel Nicolaus initiated coverage on shares of Mentari Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $30.00 price target for the company. Finally, Guggenheim began coverage on shares of Mentari Therapeutics in a report on Monday. They set a “strong-buy” rating for the company. 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. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $30.00.

Mentari Therapeutics Stock Performance

Shares of MTRI stock 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 Mentari Therapeutics news, major shareholder Adar1 Capital Management, Llc purchased 2,640 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were acquired at an average price of $13.10 per share, with a total value of $34,584.00. Following the purchase, the insider directly owned 98,297 shares in the company, valued at approximately $1,287,690.70. This trade represents a 2.76% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.85% of the stock is currently owned by company 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.