Relmada Therapeutics (NASDAQ:RLMD) Price Target Raised to $81.00

Relmada Therapeutics (NASDAQ:RLMDGet Rating) had its price objective boosted by investment analysts at The Goldman Sachs Group from $49.00 to $81.00 in a report issued on Friday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 154.24% from the stock’s previous close.

Separately, Guggenheim increased their target price on Relmada Therapeutics from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th.

Relmada Therapeutics Price Performance

Shares of Relmada Therapeutics stock traded up $1.32 during trading hours on Friday, hitting $31.86. The company’s stock had a trading volume of 7,689 shares, compared to its average volume of 429,772. The company has a market capitalization of $957.71 million, a PE ratio of -4.54 and a beta of 0.62. The stock has a 50 day moving average of $28.44 and a 200 day moving average of $24.20. Relmada Therapeutics has a 12 month low of $15.73 and a 12 month high of $34.53.

Relmada Therapeutics (NASDAQ:RLMDGet Rating) last announced its earnings results on Thursday, August 11th. The company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.03). Equities analysts expect that Relmada Therapeutics will post -5.55 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Sergio Traversa sold 16,012 shares of the stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $19.13, for a total transaction of $306,309.56. Following the completion of the transaction, the chief executive officer now directly owns 88,774 shares of the company’s stock, valued at $1,698,246.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.50% of the company’s stock.

Institutional Trading of Relmada Therapeutics

A number of large investors have recently added to or reduced their stakes in RLMD. Northern Trust Corp increased its holdings in shares of Relmada Therapeutics by 6.6% during the 4th quarter. Northern Trust Corp now owns 173,932 shares of the company’s stock worth $3,919,000 after acquiring an additional 10,727 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Relmada Therapeutics by 22.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 65,062 shares of the company’s stock valued at $1,465,000 after purchasing an additional 11,858 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Relmada Therapeutics in the fourth quarter valued at about $393,000. Ghisallo Capital Management LLC bought a new stake in shares of Relmada Therapeutics during the 4th quarter worth about $338,000. Finally, Point72 Asset Management L.P. grew its stake in Relmada Therapeutics by 330.1% in the 4th quarter. Point72 Asset Management L.P. now owns 946,313 shares of the company’s stock valued at $21,320,000 after buying an additional 726,313 shares during the last quarter. Institutional investors and hedge funds own 82.03% of the company’s stock.

Relmada Therapeutics Company Profile

(Get Rating)

Relmada Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing various products for the treatment of central nervous system (CNS) diseases and other disorders. Its lead product candidate is Esmethadone (d-methadone, dextromethadone, and REL-1017), a new chemical entity and N-methyl-D-aspartate receptor antagonist that is in Phase 3 clinical trials for the adjunctive or monotherapy treatment of major depressive disorder in adults.

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