Guggenheim initiated coverage on shares of Mentari Therapeutics (NASDAQ:MTRI – Get Free Report) in a report released on Monday, Zacks reports. The brokerage set a “strong-buy” rating on the stock.
Other analysts also recently issued research reports about the company. Stifel Nicolaus started coverage on Mentari Therapeutics in a research report on Tuesday. They set a “buy” rating and a $30.00 price target for the company. Jefferies Financial Group assumed coverage on Mentari Therapeutics in a report on Tuesday. They set a “buy” rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat.com, Mentari Therapeutics presently has a consensus rating of “Buy” and an average price target of $30.00.
Check Out Our Latest Stock Report on MTRI
Mentari Therapeutics Trading Down 23.8%
Mentari Therapeutics stock 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 Buying and Selling at Mentari Therapeutics
In related news, major shareholder Adar1 Capital Management, Llc acquired 2,640 shares of the stock in a transaction dated 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 transaction, the insider owned 98,297 shares in the company, valued at $1,287,690.70. This represents a 2.76% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.
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