Mentari Therapeutics (NASDAQ:MTRI) Now Covered by Analysts at TD Cowen

TD Cowen initiated coverage on shares of Mentari Therapeutics (NASDAQ:MTRI) in a research note issued to investors on Wednesday, Zacks reports. The firm set a “strong-buy” rating on the stock.

MTRI has been the topic of several other research reports. Stifel Nicolaus began coverage on Mentari Therapeutics in a report on Tuesday. They issued a “buy” rating and a $30.00 price objective on the stock. Jefferies Financial Group assumed coverage on Mentari Therapeutics in a research report on Tuesday. They set a “buy” rating and a $30.00 price target on the stock. Finally, Guggenheim began coverage on Mentari Therapeutics in a research report on Monday. They set a “strong-buy” rating on the stock. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Mentari Therapeutics currently has an average rating of “Strong Buy” and an average target price of $30.00.

Mentari Therapeutics Stock Performance

Mentari Therapeutics stock opened at $15.61 on Wednesday. Mentari Therapeutics has a twelve month low of $5.75 and a twelve month high of $23.30.

Insider Transactions at Mentari Therapeutics

In other news, major shareholder Adar1 Capital Management, Llc acquired 2,640 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were purchased at an average price of $13.10 per share, for a total transaction of $34,584.00. Following the completion of the transaction, the insider owned 98,297 shares of the company’s stock, valued at $1,287,690.70. The trade was a 2.76% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.