Relmada Therapeutics, Inc. (NASDAQ:RLMD) Receives $9.00 Consensus Target Price from Analysts

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

RLMD has been the topic of several research analyst reports. Mizuho raised Relmada Therapeutics from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $1.00 to $10.00 in a research note on Wednesday, November 19th. Jefferies Financial Group began coverage on Relmada Therapeutics in a research report on Monday, December 22nd. They set a “buy” rating and a $9.00 price target on the stock. Zacks Research upgraded shares of Relmada Therapeutics to a “hold” rating in a report on Tuesday, January 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Relmada Therapeutics in a research report on Wednesday, January 28th. Finally, 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 research note on Friday, January 23rd.

Insider Buying and Selling

In other news, CFO Maged Shenouda purchased 11,665 shares of Relmada Therapeutics stock in a transaction on Monday, December 15th. The stock was purchased at an average price of $4.12 per share, with a total value of $48,059.80. Following the transaction, the chief financial officer directly owned 800,000 shares in the company, valued at $3,296,000. The trade was a 1.48% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RLMD. Virtu Financial LLC bought a new stake in Relmada Therapeutics during the 4th quarter worth about $85,000. Corient Private Wealth LLC grew its holdings in shares of Relmada Therapeutics by 248.2% in the 4th quarter. Corient Private Wealth LLC now owns 719,582 shares of the company’s stock valued at $3,443,000 after acquiring an additional 512,915 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Relmada Therapeutics in the fourth quarter valued at about $199,000. Ikarian Capital LLC raised its holdings in Relmada Therapeutics by 66.5% during the fourth quarter. Ikarian Capital LLC now owns 3,068,359 shares of the company’s stock worth $14,820,000 after acquiring an additional 1,225,299 shares in the last quarter. Finally, Squadron Capital Management LLC bought a new stake in shares of Relmada Therapeutics during the 4th quarter worth approximately $32,361,000. Institutional investors own 45.24% of the company’s stock.

Relmada Therapeutics Price Performance

Relmada Therapeutics stock opened at $4.55 on Monday. The firm has a market capitalization of $333.65 million, a price-to-earnings ratio of -2.53 and a beta of 0.76. The company’s 50 day simple moving average is $4.11 and its 200 day simple moving average is $3.00. Relmada Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $5.12.

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.