Relmada Therapeutics, Inc. (NASDAQ:RLMD) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have earned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $9.00.

Several research firms recently commented on RLMD. Mizuho upgraded Relmada Therapeutics from a “neutral” rating to an “outperform” rating and raised their target price for the company from $1.00 to $10.00 in a research report on Wednesday, November 19th. Leerink Partners raised Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 price target on the stock in a report on Friday, January 23rd. Wall Street Zen upgraded shares of Relmada Therapeutics to a “hold” rating in a research note on Saturday, October 11th. Jefferies Financial Group began coverage on shares of Relmada Therapeutics in a report on Monday, December 22nd. They issued a “buy” rating and a $9.00 price objective for the company. Finally, Zacks Research raised shares of Relmada Therapeutics to a “hold” rating in a research note on Tuesday.

Relmada Therapeutics Stock Down 3.7%

Shares of NASDAQ:RLMD opened at $3.95 on Thursday. The company’s 50-day moving average price is $4.22 and its 200 day moving average price is $2.53. The company has a market cap of $289.65 million, a PE ratio of -2.19 and a beta of 0.77. Relmada Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $5.12.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.26). As a group, equities analysts anticipate that Relmada Therapeutics will post -2.73 EPS for the current year.

Insider Activity at Relmada Therapeutics

In other news, CFO Maged Shenouda bought 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were purchased at an average price of $2.20 per share, with a total value of $1,100,000.00. Following the completion of the acquisition, the chief financial officer directly owned 788,335 shares in the company, valued at approximately $1,734,337. This trade represents a 173.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Chuck Ence bought 136,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was purchased at an average price of $2.20 per share, with a total value of $299,200.00. Following the completion of the transaction, the chief operating officer directly owned 403,931 shares of the company’s stock, valued at $888,648.20. This trade represents a 50.76% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 737,665 shares of company stock worth $1,645,260 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in Relmada Therapeutics in the second quarter worth about $28,000. LMR Partners LLP bought a new position in shares of Relmada Therapeutics during the 2nd quarter valued at about $33,000. Jane Street Group LLC acquired a new position in shares of Relmada Therapeutics in the 2nd quarter worth approximately $69,000. Goldman Sachs Group Inc. acquired a new position in shares of Relmada Therapeutics in the 1st quarter worth approximately $33,000. Finally, Marshall Wace LLP bought a new stake in shares of Relmada Therapeutics in the 2nd quarter worth approximately $93,000. 45.24% of the stock is owned by institutional investors and hedge funds.

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.