Relmada Therapeutics (NASDAQ:RLMD) Upgraded to “Outperform” at Mizuho

Relmada Therapeutics (NASDAQ:RLMD) was upgraded by investment analysts at Mizuho from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage presently has a $10.00 target price on the stock, up from their previous target price of $1.00. Mizuho’s price objective would suggest a potential upside of 106.40% from the company’s current price.

Other research analysts have also issued reports about the company. Weiss Ratings restated a “sell (e+)” rating on shares of Relmada Therapeutics in a research report on Friday, October 31st. Wall Street Zen upgraded Relmada Therapeutics to a “hold” rating in a report on Saturday, October 11th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Relmada Therapeutics has a consensus rating of “Hold” and a consensus price target of $5.50.

Relmada Therapeutics Stock Up 13.5%

Shares of RLMD stock opened at $4.85 on Wednesday. The firm has a market cap of $160.82 million, a price-to-earnings ratio of -2.68 and a beta of 0.87. Relmada Therapeutics has a 12 month low of $0.24 and a 12 month high of $5.12. The stock has a 50-day moving average price of $2.29 and a 200 day moving average price of $1.25.

Relmada Therapeutics (NASDAQ:RLMD) last issued its earnings results on Thursday, November 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.26). Sell-side analysts predict that Relmada Therapeutics will post -2.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Relmada Therapeutics

In other Relmada Therapeutics news, COO Chuck Ence bought 136,000 shares of Relmada Therapeutics stock in a transaction that occurred on Wednesday, November 5th. The stock was acquired at an average price of $2.20 per share, for a total transaction of $299,200.00. Following the completion of the acquisition, the chief operating officer owned 403,931 shares of the company’s stock, valued at $888,648.20. This trade represents a 50.76% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Maged Shenouda purchased 500,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was acquired at an average price of $2.20 per share, for a total transaction of $1,100,000.00. Following the completion of the purchase, the chief financial officer directly owned 788,335 shares in the company, valued at approximately $1,734,337. The trade was a 173.41% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 726,000 shares of company stock worth $1,597,200. Corporate insiders own 20.70% of the company’s stock.

Institutional Trading of Relmada Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new position in Relmada Therapeutics during the first quarter valued at approximately $33,000. AdvisorShares Investments LLC raised its stake in shares of Relmada Therapeutics by 43.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 396,514 shares of the company’s stock worth $238,000 after purchasing an additional 120,000 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Relmada Therapeutics in the 3rd quarter valued at approximately $1,393,000. Two Sigma Investments LP grew its stake in shares of Relmada Therapeutics by 82.0% in the third quarter. Two Sigma Investments LP now owns 173,614 shares of the company’s stock valued at $349,000 after buying an additional 78,197 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new position in shares of Relmada Therapeutics in the second quarter valued at $120,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

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.