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

Equities researchers at Zacks Research initiated coverage on shares of Mentari Therapeutics (NASDAQ:MTRI) in a research report issued to clients and investors on Wednesday, Zacks reports. The firm set a “hold” rating on the stock.

Other equities analysts have also recently issued reports about the company. Guggenheim started coverage on Mentari Therapeutics in a report on Monday. They set a “strong-buy” rating on the stock. TD Cowen initiated 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 objective for the company. Finally, Jefferies Financial Group assumed 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. Two investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $30.00.

Mentari Therapeutics Trading Up 17.6%

MTRI stock opened at $18.35 on Wednesday. Mentari Therapeutics has a 1-year low of $5.75 and a 1-year high of $23.30.

Insiders Place Their Bets

In other Mentari Therapeutics news, major shareholder Adar1 Capital Management, Llc acquired 2,640 shares of the company’s stock in a transaction 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 purchase, 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 Securities & Exchange Commission, which can be accessed through this link. 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.