Relmada Therapeutics (NASDAQ:RLMD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Relmada Therapeutics (NASDAQ:RLMD) to a hold rating in a report published on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Relmada Therapeutics has an average rating of “Reduce” and an average target price of $1.00.

Relmada Therapeutics Stock Down 1.0%

Shares of Relmada Therapeutics stock opened at $2.02 on Friday. The firm has a market capitalization of $67.04 million, a P/E ratio of -0.91 and a beta of 0.91. Relmada Therapeutics has a 52 week low of $0.24 and a 52 week high of $3.98. The firm’s 50 day moving average is $1.34 and its two-hundred day moving average is $0.82.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). As a group, research analysts expect that Relmada Therapeutics will post -2.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Relmada Therapeutics

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

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.