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

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $12.00.

Several equities analysts have issued reports on the company. Piper Sandler began coverage on Relmada Therapeutics in a research report on Tuesday. They set an “overweight” rating and a $12.00 target price on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Relmada Therapeutics in a report on Wednesday, January 28th. Zacks Research upgraded Relmada Therapeutics to a “hold” rating in a research note on Tuesday, January 27th. 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. Finally, Leerink Partners upgraded Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 price objective for the company in a research report on Friday, January 23rd.

Relmada Therapeutics Stock Performance

Shares of Relmada Therapeutics stock opened at $6.10 on Friday. Relmada Therapeutics has a one year low of $0.24 and a one year high of $7.51. The company has a market cap of $447.31 million, a P/E ratio of -4.21 and a beta of 0.72. The firm has a fifty day moving average of $4.58 and a two-hundred day moving average of $3.66.

Relmada Therapeutics (NASDAQ:RLMD) last issued its earnings results on Thursday, March 19th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.13). As a group, equities analysts predict that Relmada Therapeutics will post -2.73 earnings per share for the current year.

Institutional Trading of Relmada Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC acquired a new position in Relmada Therapeutics during the fourth quarter worth about $35,041,000. Squadron Capital Management LLC acquired a new stake in shares of Relmada Therapeutics in the 4th quarter worth approximately $32,361,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Relmada Therapeutics in the 4th quarter worth approximately $20,624,000. Spruce Street Capital LP purchased a new position in Relmada Therapeutics in the 4th quarter valued at approximately $19,736,000. Finally, Marshall Wace LLP increased its stake in Relmada Therapeutics by 1,072.4% in the 4th quarter. Marshall Wace LLP now owns 3,189,662 shares of the company’s stock valued at $15,406,000 after purchasing an additional 2,917,609 shares in the last quarter. Institutional investors and hedge funds 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.