Relmada Therapeutics (OTCMKTS:RLMD) Stock Price Down 0.4%

Relmada Therapeutics Inc (OTCMKTS:RLMD)’s stock price dropped 0.4% on Monday . The stock traded as low as $41.25 and last traded at $43.22, approximately 138,050 shares changed hands during trading. A decline of 19% from the average daily volume of 170,741 shares. The stock had previously closed at $43.37.

Several analysts recently weighed in on the company. Goldman Sachs Group assumed coverage on Relmada Therapeutics in a report on Tuesday, April 21st. They issued a “buy” rating and a $63.00 price objective for the company. SunTrust Banks assumed coverage on Relmada Therapeutics in a report on Monday, May 4th. They issued a “buy” rating and a $75.00 price objective for the company. Finally, Zacks Investment Research upgraded Relmada Therapeutics from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Thursday, May 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $65.60.

The stock has a 50-day moving average of $46.60 and a 200 day moving average of $41.17.

A number of hedge funds and other institutional investors have recently modified their holdings of RLMD. Charles Schwab Investment Management Inc. acquired a new position in Relmada Therapeutics in the fourth quarter valued at approximately $1,919,000. TD Asset Management Inc. acquired a new position in Relmada Therapeutics in the fourth quarter valued at approximately $253,000. Citigroup Inc. acquired a new position in Relmada Therapeutics in the fourth quarter valued at approximately $37,000. Pensionmark Financial Group LLC acquired a new position in Relmada Therapeutics in the fourth quarter valued at approximately $507,000. Finally, Broadfin Capital LLC acquired a new position in Relmada Therapeutics in the fourth quarter valued at approximately $8,608,000.

Relmada Therapeutics Company Profile (OTCMKTS:RLMD)

Relmada Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing drugs to treat central nervous system (CNS) diseases and other disorders in the United States. Its lead product candidate, d-Methadone, is being developed as a rapidly acting, oral agent for the treatment of depression, neuropathic pain, and/or other potential CNS pathological conditions.

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