Relmada Therapeutics, Inc. (NASDAQ:RLMD) Given Consensus Rating of “Moderate Buy” by Brokerages

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

Several analysts recently commented on RLMD shares. Mizuho upped their price target on shares of Relmada Therapeutics from $10.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 20th. Leerink Partners upgraded shares of Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 price target for the company in a research report on Friday, January 23rd. Zacks Research upgraded shares of Relmada Therapeutics to a “hold” rating in a research report on Tuesday, January 27th. Lucid Cap Mkts upgraded shares of Relmada Therapeutics to a “strong-buy” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Relmada Therapeutics in a research report on Wednesday, January 28th.

Relmada Therapeutics Price Performance

RLMD stock opened at $7.32 on Friday. The company has a fifty day moving average price of $6.51 and a 200 day moving average price of $4.77. Relmada Therapeutics has a 12 month low of $0.36 and a 12 month high of $8.00. The company has a market cap of $767.79 million, a price-to-earnings ratio of -5.05 and a beta of 0.43.

Relmada Therapeutics (NASDAQ:RLMD) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.13). As a group, analysts anticipate that Relmada Therapeutics will post -0.72 earnings per share for the current year.

Hedge Funds Weigh In On Relmada Therapeutics

A number of large investors have recently bought and sold shares of RLMD. Goldman Sachs Group Inc. purchased a new position in Relmada Therapeutics during the 1st quarter worth $33,000. XTX Topco Ltd purchased a new position in Relmada Therapeutics during the 2nd quarter worth $28,000. Marshall Wace LLP purchased a new position in Relmada Therapeutics during the 2nd quarter worth $93,000. Jane Street Group LLC purchased a new position in Relmada Therapeutics during the 2nd quarter worth $69,000. Finally, LMR Partners LLP purchased a new position in Relmada Therapeutics during the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 45.24% of the company’s stock.

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.