Guggenheim Begins Coverage on Mentari Therapeutics (NASDAQ:MTRI)

Research analysts at Guggenheim started coverage on shares of Mentari Therapeutics (NASDAQ:MTRI) in a report issued on Monday, Zacks reports. The brokerage set a “strong-buy” rating on the stock.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group initiated coverage on shares of Mentari Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $30.00 target price for the company. Stifel Nicolaus began coverage on Mentari Therapeutics in a report on Tuesday. They set a “buy” rating and a $30.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $30.00.

Mentari Therapeutics Trading Down 23.8%

Shares of MTRI stock opened at $12.20 on Monday. Mentari Therapeutics has a 12-month low of $5.75 and a 12-month high of $23.30.

Insider Buying and Selling

In other news, major shareholder Adar1 Capital Management, Llc purchased 2,640 shares of Mentari Therapeutics stock in a transaction on Thursday, November 5th. The stock was purchased at an average price of $13.10 per share, with a total value of $34,584.00. Following the transaction, the insider directly owned 98,297 shares in the company, valued at $1,287,690.70. The trade was a 2.76% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 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.