Relmada Therapeutics (NASDAQ:RLMD) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Relmada Therapeutics (NASDAQ:RLMD) to a hold rating in a report published on Tuesday morning,Zacks.com reports.

A number of other research analysts have also weighed in on RLMD. Leerink Partners raised shares of Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 target price for the company in a report on Friday, January 23rd. Mizuho upgraded Relmada Therapeutics from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $1.00 to $10.00 in a report on Wednesday, November 19th. Wall Street Zen upgraded Relmada Therapeutics to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Relmada Therapeutics in a report on Friday, October 31st. Finally, Jefferies Financial Group started coverage on shares of Relmada Therapeutics in a research note on Monday, December 22nd. They issued a “buy” rating and a $9.00 price objective for the company. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Relmada Therapeutics has an average rating of “Hold” and a consensus price target of $9.00.

Relmada Therapeutics Trading Up 0.3%

NASDAQ RLMD traded up $0.01 during trading hours on Tuesday, hitting $3.96. 111,427 shares of the company’s stock traded hands, compared to its average volume of 534,982. Relmada Therapeutics has a 52 week low of $0.24 and a 52 week high of $5.12. The firm has a market capitalization of $290.39 million, a P/E ratio of -2.20 and a beta of 0.77. The business’s fifty day moving average price is $4.22 and its two-hundred day moving average price is $2.53.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.26). On average, sell-side analysts expect that Relmada Therapeutics will post -2.73 EPS for the current fiscal year.

Insider Activity

In other Relmada Therapeutics news, COO Chuck Ence acquired 136,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were purchased at an average price of $2.20 per share, for a total transaction of $299,200.00. Following the completion of the purchase, the chief operating officer directly owned 403,931 shares of the company’s stock, valued at $888,648.20. The trade was a 50.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Paul Edward Kelly bought 90,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were acquired at an average price of $2.20 per share, with a total value of $198,000.00. Following the completion of the transaction, the chief operating officer directly owned 502,295 shares of the company’s stock, valued at $1,105,049. This trade represents a 21.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 737,665 shares of company stock valued at $1,645,260 in the last ninety days. Insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RLMD. Goldman Sachs Group Inc. acquired a new position in shares of Relmada Therapeutics in the first quarter worth about $33,000. AdvisorShares Investments LLC raised its position in shares of Relmada Therapeutics by 43.4% in the second quarter. AdvisorShares Investments LLC now owns 396,514 shares of the company’s stock valued at $238,000 after buying an additional 120,000 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Relmada Therapeutics during the 2nd quarter worth approximately $28,000. Marshall Wace LLP acquired a new position in Relmada Therapeutics in the 2nd quarter valued at about $93,000. Finally, Jane Street Group LLC acquired a new stake in Relmada Therapeutics during the second quarter worth $69,000. 45.24% of the stock is owned by institutional investors and hedge funds.

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.