Relmada Therapeutics, Inc. (NASDAQ:RLMD) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have received a consensus recommendation of “Hold” from the five analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $9.00.

RLMD has been the topic of several recent analyst reports. Mizuho raised shares of Relmada Therapeutics from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $1.00 to $10.00 in a research note on Wednesday, November 19th. Jefferies Financial Group began coverage on Relmada Therapeutics in a report on Monday, December 22nd. They set a “buy” rating and a $9.00 price objective on the stock. Zacks Research raised Relmada Therapeutics to a “hold” rating in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Relmada Therapeutics in a research report on Wednesday, January 28th. Finally, Leerink Partners raised Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 price target on the stock in a research note on Friday, January 23rd.

Relmada Therapeutics Trading Down 5.3%

NASDAQ:RLMD opened at $4.13 on Monday. Relmada Therapeutics has a twelve month low of $0.24 and a twelve month high of $5.12. The company has a market capitalization of $302.85 million, a P/E ratio of -2.29 and a beta of 0.77. The firm has a 50-day moving average price of $4.11 and a two-hundred day moving average price of $2.94.

Insider Activity at Relmada Therapeutics

In other Relmada Therapeutics news, CFO Maged Shenouda purchased 11,665 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were purchased at an average price of $4.12 per share, for a total transaction of $48,059.80. Following the completion of the acquisition, the chief financial officer owned 800,000 shares of the company’s stock, valued at approximately $3,296,000. This represents a 1.48% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 20.70% of the stock is currently owned by company insiders.

Institutional Trading of Relmada Therapeutics

A number of hedge funds have recently made changes to their positions in RLMD. Goldman Sachs Group Inc. acquired a new stake in shares of Relmada Therapeutics during the first quarter valued at about $33,000. AdvisorShares Investments LLC grew its stake in Relmada Therapeutics by 43.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 396,514 shares of the company’s stock valued at $238,000 after purchasing an additional 120,000 shares in the last quarter. XTX Topco Ltd purchased a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $28,000. Marshall Wace LLP acquired a new position in shares of Relmada Therapeutics in the 2nd quarter valued at approximately $93,000. Finally, Jane Street Group LLC purchased a new position in shares of Relmada Therapeutics during the 2nd quarter valued at approximately $69,000. Hedge funds and other institutional investors own 45.24% of the company’s stock.

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.