Relmada Therapeutics, Inc. (NASDAQ:RLMD) Stock Now Rated “Moderate Buy” by Wall Street Analysts

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

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relmada Therapeutics in a research note on Monday, September 14th.

Insider Activity

In related 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 acquired at an average cost of $4.25 per share, for a total transaction of $339,150.00. Following the completion of the acquisition, the chief financial officer owned 1,000,000 shares in the company, valued at $4,250,000. This trade represents a 8.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Profund Advisors LLC lifted its position in Relmada Therapeutics by 615.6% in the 3rd quarter. Profund Advisors LLC now owns 195,555 shares of the company’s stock worth $737,000 after buying an additional 168,229 shares in the last quarter. AXQ Capital LP purchased a new position in shares of Relmada Therapeutics during the 2nd quarter valued at $84,000. Wellington Management Group LLP purchased a new position in shares of Relmada Therapeutics during the 2nd quarter valued at $441,000. Seven Fleet Capital Management LP purchased a new position in shares of Relmada Therapeutics during the 2nd quarter valued at $2,410,000. Finally, Corient Private Wealth LP acquired a new position in shares of Relmada Therapeutics in the second quarter worth $4,933,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

Relmada Therapeutics Trading Up 4.1%

NASDAQ:RLMD opened at $3.58 on Friday. The firm has a market capitalization of $381.88 million, a price-to-earnings ratio of -3.98 and a beta of 0.51. Relmada Therapeutics has a 1-year low of $2.15 and a 1-year high of $8.00. The business’s fifty day moving average price is $3.84 and its 200 day moving average price is $5.32.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.09. Equities analysts forecast 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. The company’s research has primarily targeted conditions with significant unmet medical needs, including major depressive disorder and other neuropsychiatric diseases.

Relmada’s lead investigational product is REL-1017, also known as esmethadone or dextromethadone. The orally administered compound is designed to modulate the N-methyl-D-aspartate (NMDA) receptor and has been studied as a potential adjunctive treatment for major depressive disorder in patients who do not respond adequately to standard antidepressants.