Relmada Therapeutics, Inc. (NASDAQ:RLMD) Receives $9.00 Average Target Price from Brokerages

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $12.00.

Several brokerages recently issued reports on RLMD. Lucid Cap Mkts raised Relmada Therapeutics to a “strong-buy” rating in a research note on Monday, March 2nd. Jefferies Financial Group assumed coverage on Relmada Therapeutics in a research note on Monday, December 22nd. They set a “buy” rating and a $9.00 target price on the stock. Leerink Partners upgraded Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 target price on the stock in a report on Friday, January 23rd. Piper Sandler initiated coverage on shares of Relmada Therapeutics in a research report on Tuesday. They issued an “overweight” rating and a $12.00 price target for the company. Finally, Zacks Research upgraded shares of Relmada Therapeutics to a “hold” rating in a report on Tuesday, January 27th.

Institutional Investors Weigh In On Relmada Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLMD. Janus Henderson Group PLC purchased a new position in shares of Relmada Therapeutics during the 4th quarter valued at $35,041,000. Squadron Capital Management LLC purchased a new stake in shares of Relmada Therapeutics during the fourth quarter worth $32,361,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Relmada Therapeutics during the fourth quarter worth $20,624,000. Spruce Street Capital LP acquired a new stake in Relmada Therapeutics during the fourth quarter valued at $19,736,000. Finally, Marshall Wace LLP boosted its position in Relmada Therapeutics by 1,072.4% during the fourth quarter. Marshall Wace LLP now owns 3,189,662 shares of the company’s stock valued at $15,406,000 after purchasing an additional 2,917,609 shares during the last quarter. Hedge funds and other institutional investors own 45.24% of the company’s stock.

Relmada Therapeutics Stock Down 1.8%

Shares of NASDAQ:RLMD opened at $6.54 on Friday. The company’s fifty day moving average is $4.69 and its two-hundred day moving average is $3.70. The company has a market cap of $479.36 million, a P/E ratio of -4.51 and a beta of 0.72. Relmada Therapeutics has a 12-month low of $0.24 and a 12-month high of $7.51.

Relmada Therapeutics (NASDAQ:RLMD) last issued its earnings results on Thursday, March 19th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.13). Equities research analysts anticipate that Relmada Therapeutics will post -2.73 earnings per share for the current year.

Relmada Therapeutics Company Profile

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.