Relmada Therapeutics, Inc. (NASDAQ:RLMD) Given Average Recommendation of “Moderate Buy” by Brokerages

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

A number of equities research analysts have weighed in on the company. Jefferies Financial Group started coverage on Relmada Therapeutics in a research report on Monday, December 22nd. They issued a “buy” rating and a $9.00 target price for the company. Mizuho lifted their price target on Relmada Therapeutics from $10.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 20th. Piper Sandler started coverage on Relmada Therapeutics in a research note on Tuesday, March 24th. They issued an “overweight” rating and a $12.00 price objective on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Relmada Therapeutics in a report on Wednesday, January 28th. Finally, Zacks Research raised Relmada Therapeutics to a “hold” rating in a research note on Tuesday, January 27th.

Hedge Funds Weigh In On Relmada Therapeutics

Several large investors have recently made changes to their positions in RLMD. XTX Topco Ltd bought a new stake in shares of Relmada Therapeutics in the 2nd quarter worth approximately $28,000. Goldman Sachs Group Inc. bought a new stake in Relmada Therapeutics during the first quarter worth approximately $33,000. LMR Partners LLP acquired a new position in Relmada Therapeutics in the second quarter worth approximately $33,000. Schonfeld Strategic Advisors LLC acquired a new position in Relmada Therapeutics in the fourth quarter worth approximately $64,000. Finally, Jane Street Group LLC bought a new position in shares of Relmada Therapeutics in the second quarter valued at $69,000. Institutional investors own 45.24% of the company’s stock.

Relmada Therapeutics Trading Up 1.2%

RLMD stock opened at $7.38 on Tuesday. Relmada Therapeutics has a 52 week low of $0.27 and a 52 week high of $7.94. The company has a market capitalization of $774.09 million, a price-to-earnings ratio of -5.09 and a beta of 0.44. The firm’s 50-day moving average is $5.44 and its two-hundred day moving average is $4.18.

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

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.