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

Wedbush initiated coverage on shares of Mentari Therapeutics (NASDAQ:MTRI) in a report published on Friday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $33.00 price objective on the stock.

A number of other analysts also recently commented on MTRI. Zacks Research began coverage on shares of Mentari Therapeutics in a report on Wednesday. They set a “hold” rating on the stock. Guggenheim began coverage on shares of Mentari Therapeutics in a report on Monday, November 9th. They issued a “strong-buy” rating for the company. TD Cowen started coverage on shares of Mentari Therapeutics in a report on Wednesday. They issued a “strong-buy” rating for the company. Stifel Nicolaus began coverage on shares of Mentari Therapeutics in a research report on Tuesday, November 10th. They set a “buy” rating and a $30.00 price target for the company. Finally, Jefferies Financial Group began coverage on Mentari Therapeutics in a research note on Tuesday, November 10th. They set a “buy” rating and a $30.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Mentari Therapeutics presently has an average rating of “Buy” and a consensus target price of $31.00.

Mentari Therapeutics Trading Up 2.1%

Shares of MTRI traded up $0.39 during trading hours on Friday, reaching $18.74. The company had a trading volume of 11,941 shares, compared to its average volume of 24,901. Mentari Therapeutics has a 12-month low of $5.75 and a 12-month 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 on Thursday, November 5th. The shares were bought at an average price of $13.10 per share, with a total value of $34,584.00. Following the completion of the acquisition, the insider owned 98,297 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.85% of the company’s stock.

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.