Mentari Therapeutics (NASDAQ:MTRI) Now Covered by Guggenheim

Guggenheim began coverage on shares of Mentari Therapeutics (NASDAQ:MTRI) in a research report report published on Monday,Zacks reports. The firm issued a strong-buy rating on the stock.

A number of other equities analysts also recently commented on the stock. Stifel Nicolaus started coverage on shares of Mentari Therapeutics in a research report on Tuesday. They set a “buy” rating and a $30.00 price objective for the company. Jefferies Financial Group started coverage on Mentari Therapeutics in a research report on Tuesday. They set a “buy” rating and a $30.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $30.00.

Mentari Therapeutics Trading Down 23.8%

MTRI opened at $12.20 on Monday. Mentari Therapeutics has a 52 week low of $5.75 and a 52 week 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 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 in the company, valued at approximately $1,287,690.70. This trade 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. Corporate 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.