Mentari Therapeutics (NASDAQ:MTRI) Stock Has Consensus Price Target of $31.00 According to Analysts

Shares of Mentari Therapeutics (NASDAQ:MTRI) have received a consensus recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $31.00.

A number of equities analysts recently commented 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 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. Zacks Research assumed coverage on shares of Mentari Therapeutics in a research note on Wednesday. They set a “hold” rating on the stock. Jefferies Financial Group started coverage on Mentari Therapeutics in a report on Tuesday. They issued a “buy” rating and a $30.00 target price for the company. Finally, Guggenheim initiated coverage on Mentari Therapeutics in a research report on Monday. They issued a “strong-buy” rating for the company.

Insiders Place Their Bets

In other Mentari Therapeutics news, major shareholder Adar1 Capital Management, Llc purchased 2,640 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were purchased at an average cost of $13.10 per share, with a total value 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 represents a 2.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.85% of the company’s stock.

Mentari Therapeutics Trading Up 2.4%

Shares of MTRI traded up $0.45 during midday trading on Friday, hitting $18.80. The stock had a trading volume of 5,969 shares, compared to its average volume of 79,413. Mentari Therapeutics has a fifty-two week low of $5.75 and a fifty-two week high of $23.30.

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.