Relmada Therapeutics, Inc. (NASDAQ:RLMD) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $12.00.

Several brokerages have recently commented on RLMD. Lucid Cap Mkts upgraded shares of Relmada Therapeutics to a “strong-buy” rating in a research note on Monday, March 2nd. Mizuho boosted their target price on shares of Relmada Therapeutics from $10.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 20th. Piper Sandler began coverage on shares of Relmada Therapeutics in a research note on Tuesday, March 24th. They issued an “overweight” rating and a $12.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Relmada Therapeutics in a research note on Thursday, June 18th. Finally, HC Wainwright began coverage on shares of Relmada Therapeutics in a research note on Thursday, June 18th. They issued a “buy” rating and a $12.00 target price on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC raised its holdings in shares of Relmada Therapeutics by 52.2% in the first quarter. Janus Henderson Group PLC now owns 11,063,862 shares of the company’s stock valued at $76,892,000 after buying an additional 3,793,862 shares during the last quarter. Squadron Capital Management LLC bought a new position in shares of Relmada Therapeutics in the fourth quarter valued at about $32,361,000. Spruce Street Capital LP raised its holdings in shares of Relmada Therapeutics by 53.3% in the first quarter. Spruce Street Capital LP now owns 6,262,114 shares of the company’s stock valued at $42,998,000 after buying an additional 2,175,933 shares during the last quarter. Orbimed Advisors LLC raised its holdings in shares of Relmada Therapeutics by 80.6% in the first quarter. Orbimed Advisors LLC now owns 4,715,864 shares of the company’s stock valued at $32,822,000 after buying an additional 2,105,264 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Relmada Therapeutics in the fourth quarter valued at about $20,624,000. 45.24% of the stock is owned by institutional investors.

Relmada Therapeutics Price Performance

RLMD opened at $6.69 on Friday. Relmada Therapeutics has a fifty-two week low of $0.55 and a fifty-two week high of $8.00. The firm’s fifty day moving average price is $6.93 and its two-hundred day moving average price is $5.63. The company has a market capitalization of $701.71 million, a P/E ratio of -6.14 and a beta of 0.39.

Relmada Therapeutics (NASDAQ:RLMD) last issued its earnings results on Tuesday, May 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.04). On average, equities research analysts expect that Relmada Therapeutics will post -0.82 EPS for the current fiscal 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.