Relmada Therapeutics (NASDAQ:RLMD) Stock Rating Upgraded by Jefferies Financial Group

Relmada Therapeutics (NASDAQ:RLMD) was upgraded by Jefferies Financial Group to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on RLMD. Weiss Ratings reissued a “sell (e+)” rating on shares of Relmada Therapeutics in a research report on Friday, October 31st. Wall Street Zen raised shares of Relmada Therapeutics to a “hold” rating in a research note on Saturday, October 11th. Finally, Mizuho raised shares of Relmada Therapeutics from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $1.00 to $10.00 in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Relmada Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Relmada Therapeutics Trading Up 0.7%

Shares of RLMD stock opened at $4.52 on Monday. Relmada Therapeutics has a 1-year low of $0.24 and a 1-year high of $5.12. The company has a market capitalization of $331.45 million, a price-to-earnings ratio of -2.49 and a beta of 0.73. The stock’s fifty day simple moving average is $3.43 and its 200-day simple moving average is $1.87.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.26). On average, sell-side analysts predict that Relmada Therapeutics will post -2.73 EPS for the current year.

Insider Buying and Selling

In related news, COO Paul Edward Kelly acquired 90,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were purchased at an average price of $2.20 per share, with a total value of $198,000.00. Following the acquisition, the chief operating officer directly owned 502,295 shares in the company, valued at $1,105,049. The trade was a 21.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, COO Chuck Ence bought 136,000 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was bought at an average cost of $2.20 per share, with a total value of $299,200.00. Following the completion of the purchase, the chief operating officer owned 403,931 shares of the company’s stock, valued at approximately $888,648.20. The trade was a 50.76% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 737,665 shares of company stock worth $1,645,260 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Relmada Therapeutics

Large investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in shares of Relmada Therapeutics in the second quarter valued at about $28,000. Goldman Sachs Group Inc. bought a new position in shares of Relmada Therapeutics in the first quarter valued at $33,000. LMR Partners LLP acquired a new stake in Relmada Therapeutics in the second quarter valued at $33,000. Jane Street Group LLC bought a new position in shares of Relmada Therapeutics in the 2nd quarter valued at about $69,000. Finally, Marshall Wace LLP acquired a new stake in Relmada Therapeutics in the 2nd quarter valued at about $93,000. 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.