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

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have received a consensus rating of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $12.00.

A number of brokerages have recently issued reports on RLMD. Piper Sandler assumed coverage on shares of Relmada Therapeutics in a research report on Tuesday, March 24th. They issued an “overweight” rating and a $12.00 price target on the stock. Mizuho boosted their target price 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. Finally, Lucid Cap Mkts upgraded shares of Relmada Therapeutics to a “strong-buy” rating in a research report on Monday, March 2nd.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. AdvisorShares Investments LLC lifted its position in shares of Relmada Therapeutics by 1.8% during the 3rd quarter. AdvisorShares Investments LLC now owns 403,488 shares of the company’s stock valued at $811,000 after acquiring an additional 6,974 shares during the period. State of Wyoming acquired a new position in shares of Relmada Therapeutics during the 1st quarter valued at $88,000. Keebeck Wealth Management acquired a new position in shares of Relmada Therapeutics during the 1st quarter valued at $90,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Relmada Therapeutics during the 4th quarter valued at $64,000. Finally, Renaissance Technologies LLC lifted its position in shares of Relmada Therapeutics by 9.0% during the 4th quarter. Renaissance Technologies LLC now owns 185,000 shares of the company’s stock valued at $894,000 after acquiring an additional 15,300 shares during the period. Institutional investors and hedge funds own 45.24% of the company’s stock.

Relmada Therapeutics Stock Performance

Shares of NASDAQ RLMD opened at $6.42 on Wednesday. The company has a market capitalization of $673.39 million, a P/E ratio of -5.89 and a beta of 0.39. Relmada Therapeutics has a 52-week low of $0.52 and a 52-week high of $8.00. The company’s 50 day moving average price is $7.06 and its 200-day moving average price is $5.33.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). Analysts forecast that Relmada Therapeutics will post -0.76 earnings per share for the current year.

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.