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

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

A number of analysts recently issued reports on RLMD shares. HC Wainwright started coverage on Relmada Therapeutics in a research report on Thursday, June 18th. They issued a “buy” rating and a $12.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Thursday, June 18th.

Hedge Funds Weigh In On Relmada Therapeutics

A number of institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. acquired a new stake in Relmada Therapeutics during the 1st quarter worth $33,000. XTX Topco Ltd acquired a new position in Relmada Therapeutics in the second quarter valued at $28,000. Marshall Wace LLP acquired a new position in Relmada Therapeutics in the second quarter valued at $93,000. Jane Street Group LLC purchased a new stake in shares of Relmada Therapeutics in the second quarter valued at about $69,000. Finally, LMR Partners LLP purchased a new stake in shares of Relmada Therapeutics in the second quarter valued at about $33,000. 45.24% of the stock is owned by institutional investors and hedge funds.

Relmada Therapeutics Price Performance

Shares of NASDAQ:RLMD opened at $5.00 on Thursday. Relmada Therapeutics has a 12 month low of $0.55 and a 12 month high of $8.00. The firm has a market capitalization of $524.45 million, a P/E ratio of -4.59 and a beta of 0.41. The company’s fifty day moving average price is $6.49 and its 200 day moving average price is $5.85.

Relmada Therapeutics (NASDAQ:RLMD) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.22) earnings per share (EPS) 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 EPS 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.