Relmada Therapeutics (NASDAQ:RLMD) Announces Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Relmada Therapeutics (NASDAQ:RLMD) released its earnings results on Thursday. The company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.08, Zacks reports.

Relmada Therapeutics Trading Down 2.9 %

Shares of NASDAQ RLMD opened at $0.30 on Friday. The company has a market cap of $8.99 million, a price-to-earnings ratio of -0.10 and a beta of 0.65. Relmada Therapeutics has a 12 month low of $0.24 and a 12 month high of $5.09. The stock has a 50-day moving average price of $0.31 and a two-hundred day moving average price of $1.61.

Analysts Set New Price Targets

Several brokerages recently issued reports on RLMD. Mizuho reissued a “neutral” rating and set a $1.00 price target (down from $23.00) on shares of Relmada Therapeutics in a report on Thursday, December 5th. Leerink Partnrs downgraded Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 4th. Finally, Leerink Partners restated a “market perform” rating and issued a $1.00 price objective (down previously from $10.00) on shares of Relmada Therapeutics in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $4.25.

Relmada Therapeutics Company Profile

Relmada Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing various products for the treatment of central nervous system diseases (CNS) and other disorders in the United States. Its lead product candidate is Esmethadone (d-methadone, dextromethadone, and REL-1017), a N-methyl-D-aspartate receptor antagonist which is in phase 3 clinical trial for the adjunctive or monotherapy treatment of major depressive disorder.