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

Relmada Therapeutics, Inc. (NASDAQ:RLMD) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $12.00.

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Thursday, June 18th. HC Wainwright started coverage on Relmada Therapeutics in a research report on Thursday, June 18th. They set a “buy” rating and a $12.00 price target on the stock.

Relmada Therapeutics Stock Performance

NASDAQ:RLMD opened at $4.80 on Monday. Relmada Therapeutics has a 52 week low of $0.59 and a 52 week high of $8.00. The firm’s 50-day simple moving average is $5.88 and its 200 day simple moving average is $5.98. The firm has a market cap of $512.02 million, a price-to-earnings ratio of -5.33 and a beta of 0.46.

Relmada Therapeutics (NASDAQ:RLMD) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09. Sell-side analysts anticipate that Relmada Therapeutics will post -0.6 EPS for the current year.

Institutional Trading of Relmada Therapeutics

Several large investors have recently modified their holdings of the stock. Jupiter Topco LLC acquired a new position in Relmada Therapeutics in the second quarter valued at about $77,316,000. Janus Henderson Group PLC lifted its position in Relmada Therapeutics by 52.2% during the first quarter. Janus Henderson Group PLC now owns 11,063,862 shares of the company’s stock worth $76,892,000 after purchasing an additional 3,793,862 shares during the period. BlackRock Inc. acquired a new stake in Relmada Therapeutics during the second quarter worth about $51,393,000. Squadron Capital Management LLC bought a new position in Relmada Therapeutics in the 4th quarter valued at about $32,361,000. Finally, Spruce Street Capital LP bought a new position in Relmada Therapeutics in the 2nd quarter valued at about $44,227,990,000. 45.24% of the stock is owned by institutional investors and hedge funds.

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.