Relmada Therapeutics, Inc. (NASDAQ:RLMD) Receives $14.00 Consensus Target Price from Brokerages

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD – Get Rating) have been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $14.00.

Several brokerages recently commented on RLMD. SVB Leerink lowered their price target on Relmada Therapeutics from $42.00 to $10.00 and set an “outperform” rating for the company in a research note on Monday, January 23rd. Truist Financial decreased their target price on Relmada Therapeutics from $7.00 to $4.00 in a research report on Thursday, December 8th.

Relmada Therapeutics Price Performance

Shares of RLMD opened at $2.47 on Tuesday. The company has a market capitalization of $74.35 million, a price-to-earnings ratio of -0.42 and a beta of 0.15. Relmada Therapeutics has a fifty-two week low of $1.81 and a fifty-two week high of $38.68. The business’s 50-day moving average is $3.69 and its 200-day moving average is $10.51.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Perceptive Advisors LLC raised its stake in Relmada Therapeutics by 1,864.1% during the third quarter. Perceptive Advisors LLC now owns 2,383,478 shares of the company’s stock worth $88,236,000 after acquiring an additional 2,262,128 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Relmada Therapeutics by 5,364.1% during the fourth quarter. Millennium Management LLC now owns 1,061,774 shares of the company’s stock worth $3,706,000 after purchasing an additional 1,081,944 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Relmada Therapeutics by 41.0% during the first quarter. BlackRock Inc. now owns 1,952,808 shares of the company’s stock worth $52,707,000 after purchasing an additional 567,573 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of Relmada Therapeutics by 916.0% during the fourth quarter. Two Sigma Investments LP now owns 527,162 shares of the company’s stock worth $1,840,000 after purchasing an additional 475,274 shares during the last quarter. Finally, BVF Inc. IL boosted its holdings in Relmada Therapeutics by 25.3% in the third quarter. BVF Inc. IL now owns 2,078,220 shares of the company’s stock valued at $76,936,000 after acquiring an additional 419,000 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Relmada Therapeutics Company Profile

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Relmada Therapeutics, Inc is a clinical-stage biotechnology company, which focuses on addressing diseases of the central nervous system. It develops esmethadone, an N-methyl-D-aspartate receptor antagonist for the treatment of CNS diseases, and oral agent for depression and other potential indications.