Mentari Therapeutics (MTRI) – What Are Researchers Saying About This Stock?

Mentari Therapeutics (NASDAQ:MTRI) has been assigned an average recommendation of “Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $31.00.

A number of brokerages have recently weighed in on MTRI. Jefferies Financial Group assumed 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. Guggenheim assumed coverage on shares of Mentari Therapeutics in a research note on Monday. They set a “strong-buy” rating on the stock. Zacks Research began coverage on Mentari Therapeutics in a report on Wednesday. They set a “hold” rating on the stock. TD Cowen began coverage on Mentari Therapeutics in a research report on Wednesday. They issued a “strong-buy” rating for the company. Finally, Stifel Nicolaus assumed coverage on Mentari Therapeutics in a research note on Tuesday. They set a “buy” rating and a $30.00 price target for the company.

Mentari Therapeutics Price Performance

Mentari Therapeutics stock traded up $0.45 during trading hours on Friday, hitting $18.80. 5,969 shares of the company traded hands, compared to its average volume of 79,413. Mentari Therapeutics has a 1-year low of $5.75 and a 1-year high of $23.30.

Insiders Place Their Bets

In other news, major shareholder Adar1 Capital Management, Llc bought 2,640 shares of the 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 acquisition, the insider directly owned 98,297 shares in the company, valued at approximately $1,287,690.70. The trade was a 2.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is owned by corporate 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.