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

Relmada Therapeutics, Inc. (NASDAQ:RLMD) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $12.00.

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

Insider Transactions at Relmada Therapeutics

In related news, CFO Maged Shenouda acquired 120,200 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was purchased at an average cost of $4.20 per share, for a total transaction of $504,840.00. Following the purchase, the chief financial officer directly owned 920,200 shares in the company, valued at $3,864,840. This represents a 15.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 14.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Relmada Therapeutics

A number of hedge funds have recently added to or reduced their stakes in RLMD. Legal & General Group Plc bought a new position in Relmada Therapeutics in the 2nd quarter worth about $64,000. AXQ Capital LP bought a new stake in shares of Relmada Therapeutics during the second quarter valued at approximately $84,000. State of Wyoming acquired a new position in shares of Relmada Therapeutics during the first quarter worth approximately $88,000. Keebeck Wealth Management acquired a new position in shares of Relmada Therapeutics during the first quarter worth approximately $90,000. Finally, Jefferies Financial Group Inc. bought a new position in Relmada Therapeutics in the 4th quarter worth approximately $105,000. 45.24% of the stock is currently owned by institutional investors.

Relmada Therapeutics Stock Down 0.5%

Shares of RLMD opened at $4.20 on Friday. The firm has a market cap of $448.01 million, a price-to-earnings ratio of -4.67 and a beta of 0.45. The business’s 50 day moving average is $4.90 and its two-hundred day moving average is $6.05. Relmada Therapeutics has a 52-week low of $1.47 and a 52-week high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09. On average, equities analysts expect that Relmada Therapeutics will post -0.6 earnings per share for the current fiscal year.

Relmada Therapeutics Company Profile

Relmada Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for central nervous system disorders. The company’s research has primarily centered on treatments for depression and other conditions involving the brain and nervous system.

Relmada’s lead investigational product is REL-1017, also known as esmethadone or dextromethadone. The orally administered compound is being studied as a potential treatment for major depressive disorder and is designed to modulate the N-methyl-D-aspartate (NMDA) receptor.