Relmada Therapeutics (NASDAQ:RLMD) Raised to Strong-Buy at HC Wainwright

Relmada Therapeutics (NASDAQ:RLMD) was upgraded by HC Wainwright to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

A number of other equities analysts also recently commented on RLMD. Piper Sandler initiated coverage on Relmada Therapeutics in a report on Tuesday, March 24th. They set an “overweight” rating and a $12.00 target price for the company. Lucid Cap Mkts upgraded shares of Relmada Therapeutics to a “strong-buy” rating in a report on Monday, March 2nd. Finally, Mizuho boosted their price objective on shares of Relmada Therapeutics from $10.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 20th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Relmada Therapeutics Price Performance

NASDAQ RLMD opened at $6.73 on Thursday. Relmada Therapeutics has a 1 year low of $0.52 and a 1 year high of $8.00. The stock has a market capitalization of $705.91 million, a PE ratio of -6.17 and a beta of 0.39. The business’s 50-day moving average is $7.01 and its 200 day moving average is $5.53.

Relmada Therapeutics (NASDAQ:RLMD) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). As a group, equities research analysts anticipate that Relmada Therapeutics will post -0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in shares of Relmada Therapeutics in the 2nd quarter valued at approximately $28,000. LMR Partners LLP purchased a new stake in Relmada Therapeutics in the second quarter worth $33,000. Goldman Sachs Group Inc. bought a new position in Relmada Therapeutics in the first quarter worth $33,000. Schonfeld Strategic Advisors LLC bought a new position in Relmada Therapeutics in the fourth quarter worth $64,000. Finally, Jane Street Group LLC purchased a new position in Relmada Therapeutics during the second quarter valued at $69,000. Institutional investors own 45.24% of the company’s stock.

About Relmada Therapeutics

Relmada Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for pain and other central nervous system (CNS) disorders. The company applies a proprietary stereochemical approach to optimized drug candidates, aiming to improve safety, tolerability and efficacy profiles compared with existing treatments. Relmada’s research efforts center on modulation of NMDA receptors to address unmet needs in depression, neuropathic pain and related indications.

Relmada’s lead product candidate, REL-1017 (d-methadone), is being evaluated as a potential rapid-acting and maintenance treatment for major depressive disorder, with clinical studies underway to assess its utility in both acute and long-term settings.