Relmada Therapeutics, Inc. (NASDAQ:RLMD) Receives Average Recommendation of “Moderate Buy” from Brokerages

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

A number of analysts have commented on the stock. Lucid Cap Mkts upgraded shares of Relmada Therapeutics to a “strong-buy” rating in a research note on Monday, March 2nd. Piper Sandler assumed coverage on shares of Relmada Therapeutics in a research note on Tuesday, March 24th. They set an “overweight” rating and a $12.00 price target for the company. Finally, Mizuho boosted their price target on shares of Relmada Therapeutics from $10.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 20th.

Institutional Trading of Relmada Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wyoming bought a new stake in shares of Relmada Therapeutics in the 1st quarter worth $88,000. Keebeck Wealth Management bought a new stake in shares of Relmada Therapeutics in the 1st quarter worth $90,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Relmada Therapeutics in the 4th quarter worth $64,000. Virtu Financial LLC bought a new stake in shares of Relmada Therapeutics in the 4th quarter worth $85,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Relmada Therapeutics in the 4th quarter worth $105,000. Institutional investors own 45.24% of the company’s stock.

Relmada Therapeutics Trading Down 6.3%

Shares of RLMD stock opened at $6.42 on Wednesday. The firm has a market capitalization of $673.39 million, a PE ratio of -5.89 and a beta of 0.39. The firm has a fifty day simple moving average of $7.06 and a two-hundred day simple moving average of $5.33. Relmada Therapeutics has a 12 month low of $0.52 and a 12 month high of $8.00.

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

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.