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

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

A number of equities analysts have commented on the stock. HC Wainwright started coverage on shares of Relmada Therapeutics in a research report on Thursday, June 18th. They set a “buy” rating and a $12.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Thursday, June 18th.

Institutional Investors Weigh In On Relmada Therapeutics

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

Relmada Therapeutics Trading Down 5.7%

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 stock’s 50 day simple moving average is $6.49 and its 200-day simple moving average is $5.85. The firm has a market cap of $524.45 million, a P/E ratio of -4.59 and a beta of 0.41.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly 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). Research analysts forecast that Relmada Therapeutics will post -0.82 EPS for the current fiscal year.

About Relmada Therapeutics

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.