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

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

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

Institutional Investors Weigh In On Relmada Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in Relmada Therapeutics by 397.0% during the first quarter. Bank of America Corp DE now owns 125,941 shares of the company’s stock worth $877,000 after buying an additional 100,601 shares in the last quarter. Stempoint Capital LP acquired a new stake in Relmada Therapeutics during the first quarter worth $4,158,000. Janus Henderson Group PLC boosted its stake 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 buying an additional 3,793,862 shares in the last quarter. Ally Bridge Group NY LLC acquired a new stake in Relmada Therapeutics during the first quarter worth $1,465,000. Finally, ADAR1 Capital Management LLC boosted its stake in Relmada Therapeutics by 1,364.1% during the first quarter. ADAR1 Capital Management LLC now owns 451,918 shares of the company’s stock worth $3,145,000 after buying an additional 421,052 shares in the last quarter. Institutional investors and hedge funds own 45.24% of the company’s stock.

Relmada Therapeutics Stock Up 3.7%

Shares of RLMD stock opened at $6.69 on Friday. The business’s 50 day moving average is $6.93 and its two-hundred day moving average is $5.63. The company has a market cap of $701.71 million, a PE ratio of -6.14 and a beta of 0.39. Relmada Therapeutics has a 12 month low of $0.55 and a 12 month high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD) last announced its earnings results on Tuesday, May 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). As a group, equities 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.