Brokerages Set Relmada Therapeutics, Inc. (NASDAQ:RLMD) Price Target at $12.00

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have received an average rating of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $12.00.

A number of equities analysts have recently weighed in on RLMD shares. HC Wainwright began coverage on shares of Relmada Therapeutics in a research report on Thursday, June 18th. They issued a “buy” rating and a $12.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Thursday, June 18th. Piper Sandler began coverage on shares of Relmada Therapeutics in a research note on Tuesday, March 24th. They issued an “overweight” rating and a $12.00 target price for the company. Finally, Mizuho boosted their price target on Relmada Therapeutics from $10.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 20th.

Hedge Funds Weigh In On Relmada Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC purchased a new position in Relmada Therapeutics during the fourth quarter worth about $35,041,000. Squadron Capital Management LLC acquired a new position in shares of Relmada Therapeutics during the 4th quarter valued at about $32,361,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Relmada Therapeutics during the 4th quarter valued at about $20,624,000. Spruce Street Capital LP purchased a new position in shares of Relmada Therapeutics during the 4th quarter worth about $19,736,000. Finally, Marshall Wace LLP lifted its holdings in shares of Relmada Therapeutics by 1,072.4% during the 4th quarter. Marshall Wace LLP now owns 3,189,662 shares of the company’s stock worth $15,406,000 after acquiring an additional 2,917,609 shares during the period. 45.24% of the stock is currently owned by institutional investors and hedge funds.

Relmada Therapeutics Price Performance

Shares of NASDAQ:RLMD opened at $6.28 on Friday. Relmada Therapeutics has a 52-week low of $0.55 and a 52-week high of $8.00. The stock’s fifty day simple moving average is $6.87 and its 200-day simple moving average is $5.71. The company has a market capitalization of $658.71 million, a P/E ratio of -5.76 and a beta of 0.41.

Relmada Therapeutics (NASDAQ:RLMD) last announced its earnings results on Tuesday, May 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.04). On average, sell-side analysts anticipate that Relmada Therapeutics will post -0.82 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.