Relmada Therapeutics, Inc. (NASDAQ:RLMD) Receives $12.00 Average PT from Brokerages

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have been given a consensus rating of “Moderate Buy” by the seven research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $12.00.

RLMD has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Relmada Therapeutics in a research report on Wednesday, January 28th. Leerink Partners raised shares of Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 price target on the stock in a research report on Friday, January 23rd. Zacks Research raised shares of Relmada Therapeutics to a “hold” rating in a research report on Tuesday, January 27th. Mizuho lifted their price target on shares of Relmada Therapeutics from $10.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 20th. Finally, Piper Sandler initiated coverage on shares of Relmada Therapeutics in a research report on Tuesday, March 24th. They set an “overweight” rating and a $12.00 price target on the stock.

Relmada Therapeutics Price Performance

RLMD opened at $6.90 on Friday. The company’s 50 day simple moving average is $6.83 and its two-hundred day simple moving average is $4.97. Relmada Therapeutics has a 1-year low of $0.40 and a 1-year high of $8.00. The firm has a market capitalization of $723.74 million, a price-to-earnings ratio of -6.33 and a beta of 0.43.

Relmada Therapeutics (NASDAQ:RLMD) last released its earnings results on Tuesday, May 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). On average, equities analysts anticipate that Relmada Therapeutics will post -0.75 earnings per share for the current fiscal year.

Institutional Trading of Relmada Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RLMD. Goldman Sachs Group Inc. purchased a new stake in Relmada Therapeutics in the first quarter valued at approximately $33,000. XTX Topco Ltd acquired a new position in shares of Relmada Therapeutics in the second quarter worth $28,000. Marshall Wace LLP acquired a new position in shares of Relmada Therapeutics in the second quarter worth $93,000. Jane Street Group LLC acquired a new position in shares of Relmada Therapeutics in the second quarter worth $69,000. Finally, LMR Partners LLP acquired a new position in shares of Relmada Therapeutics in the second quarter worth $33,000. Hedge funds and other institutional investors own 45.24% of the company’s stock.

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.