Relmada Therapeutics, Inc. (NASDAQ:RLMD) Stock Has Consensus Target Price of $12.00 According to Analysts

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $12.00.

Several equities research analysts recently weighed in on RLMD shares. HC Wainwright began coverage on Relmada Therapeutics in a research note on Thursday, June 18th. They set a “buy” rating and a $12.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Monday, September 14th.

Insider Activity

In other Relmada Therapeutics news, CFO Maged Shenouda purchased 79,800 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was purchased at an average price of $4.25 per share, for a total transaction of $339,150.00. Following the purchase, the chief financial officer directly owned 1,000,000 shares in the company, valued at approximately $4,250,000. This trade represents a 8.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 14.50% of the stock is currently owned by company insiders.

Institutional Trading of Relmada Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jupiter Topco LLC purchased a new position in shares of Relmada Therapeutics in the 2nd quarter valued at approximately $77,316,000. Janus Henderson Group PLC increased its holdings in shares of Relmada Therapeutics by 52.2% in the first quarter. Janus Henderson Group PLC now owns 11,063,862 shares of the company’s stock valued at $76,892,000 after purchasing 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. Spruce Street Capital LP purchased a new stake in shares of Relmada Therapeutics during the second quarter worth approximately $44,227,990. Finally, Orbimed Advisors LLC raised its stake in shares of Relmada Therapeutics by 80.6% during the first quarter. Orbimed Advisors LLC now owns 4,715,864 shares of the company’s stock worth $32,822,000 after purchasing an additional 2,105,264 shares during the last quarter. 45.24% of the stock is owned by hedge funds and other institutional investors.

Relmada Therapeutics Trading Up 6.9%

Relmada Therapeutics stock opened at $3.39 on Tuesday. The stock’s fifty day simple moving average is $4.32 and its 200-day simple moving average is $5.82. The firm has a market capitalization of $361.61 million, a P/E ratio of -3.77 and a beta of 0.51. Relmada Therapeutics has a twelve month low of $1.80 and a twelve month high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD) last released its earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09. Sell-side analysts predict that Relmada Therapeutics will post -0.62 earnings per share for the current year.

Relmada Therapeutics Company Profile

Relmada Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for central nervous system disorders, particularly major depressive disorder and other conditions associated with significant unmet medical needs. The company is headquartered in the United States and conducts its research and clinical development activities through collaborations and trials involving patients and research sites in multiple regions.

Relmada’s lead product candidate is REL-1017, also known as esmethadone or dextromethadone.