Mentari Therapeutics (NASDAQ:MTRI) Now Covered by 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 brokerage set a “strong-buy” rating on the stock.

A number of other equities analysts have also commented on MTRI. Jefferies Financial Group initiated coverage on shares of Mentari Therapeutics in a report on Tuesday. They issued a “buy” rating and a $30.00 price target on the stock. Guggenheim assumed coverage on shares of Mentari Therapeutics in a report on Monday. They set a “strong-buy” rating for the company. Finally, Stifel Nicolaus started coverage on shares of Mentari Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $30.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat, Mentari Therapeutics presently has an average rating of “Strong Buy” and an average price target of $30.00.

Mentari Therapeutics Trading Up 28.0%

MTRI stock opened at $15.61 on Wednesday. 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 company’s stock in a transaction that occurred on Thursday, November 5th. The stock was bought at an average price of $13.10 per share, for a total transaction of $34,584.00. Following the transaction, the insider directly owned 98,297 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is owned by insiders.

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.