Relmada Therapeutics, Inc. (NASDAQ:RLMD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $12.00.

Several equities analysts have commented on RLMD shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Thursday, June 18th. HC Wainwright started coverage on shares of Relmada Therapeutics in a research note on Thursday, June 18th. They set a “buy” rating and a $12.00 target price for the company.

Relmada Therapeutics Trading Down 0.5%

RLMD stock opened at $4.07 on Friday. The firm has a market capitalization of $434.15 million, a PE ratio of -4.52 and a beta of 0.45. Relmada Therapeutics has a 1-year low of $1.44 and a 1-year high of $8.00. The business’s 50 day simple moving average is $5.10 and its 200 day simple moving average is $6.05.

Relmada Therapeutics (NASDAQ:RLMD) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09. As a group, sell-side analysts predict that Relmada Therapeutics will post -0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RLMD. Jupiter Topco LLC acquired a new stake in Relmada Therapeutics during the second quarter worth approximately $77,316,000. Janus Henderson Group PLC boosted its holdings in shares of Relmada Therapeutics by 52.2% during the first quarter. Janus Henderson Group PLC now owns 11,063,862 shares of the company’s stock worth $76,892,000 after acquiring an additional 3,793,862 shares during the period. BlackRock Inc. acquired a new position in shares of Relmada Therapeutics in the second quarter valued at approximately $51,393,000. Squadron Capital Management LLC acquired a new position in shares of Relmada Therapeutics in the fourth quarter valued at approximately $32,361,000. Finally, Spruce Street Capital LP bought a new position in shares of Relmada Therapeutics during the second quarter worth approximately $44,227,990. 45.24% of the stock is owned by institutional investors.

Relmada Therapeutics Company Profile

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.