Zacks Research Upgrades Relmada Therapeutics (NASDAQ:RLMD) to “Hold”

Relmada Therapeutics (NASDAQ:RLMD) was upgraded by equities researchers at Zacks Research to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts also recently commented on RLMD. Jefferies Financial Group assumed coverage on Relmada Therapeutics in a report on Monday, December 22nd. They set a “buy” rating and a $9.00 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Relmada Therapeutics in a research note on Friday, October 31st. Mizuho raised shares of Relmada Therapeutics from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $1.00 to $10.00 in a research report on Wednesday, November 19th. Leerink Partners raised shares of Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 target price on the stock in a research note on Friday, January 23rd. Finally, Wall Street Zen raised Relmada Therapeutics to a “hold” rating in a research report on Saturday, October 11th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Relmada Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $9.00.

Relmada Therapeutics Price Performance

RLMD opened at $3.95 on Tuesday. Relmada Therapeutics has a 1-year low of $0.24 and a 1-year high of $5.12. The business has a 50 day moving average price of $4.22 and a two-hundred day moving average price of $2.53. The company has a market capitalization of $289.65 million, a price-to-earnings ratio of -2.19 and a beta of 0.77.

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

Insider Activity at Relmada Therapeutics

In other Relmada Therapeutics news, COO Chuck Ence acquired 136,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average cost of $2.20 per share, for a total transaction of $299,200.00. Following the completion of the acquisition, the chief operating officer owned 403,931 shares of the company’s stock, valued at approximately $888,648.20. This trade represents a 50.76% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Paul Edward Kelly purchased 90,000 shares of Relmada Therapeutics 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 $198,000.00. Following the transaction, the chief operating officer directly owned 502,295 shares of the company’s stock, valued at approximately $1,105,049. The trade was a 21.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 737,665 shares of company stock valued at $1,645,260. 20.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Relmada Therapeutics

Large investors have recently modified their holdings of the company. Boothbay Fund Management LLC bought a new position in Relmada Therapeutics in the 3rd quarter worth $1,393,000. AdvisorShares Investments LLC boosted its position in shares of Relmada Therapeutics by 1.8% in the third quarter. AdvisorShares Investments LLC now owns 403,488 shares of the company’s stock valued at $811,000 after acquiring an additional 6,974 shares during the period. Parsons Capital Management Inc. RI increased its position in Relmada Therapeutics by 61.0% during the fourth quarter. Parsons Capital Management Inc. RI now owns 263,000 shares of the company’s stock worth $1,270,000 after acquiring an additional 99,664 shares during the period. Corient Private Wealth LLC acquired a new stake in Relmada Therapeutics in the 2nd quarter worth $120,000. Finally, Two Sigma Investments LP grew its position in Relmada Therapeutics by 82.0% during the third quarter. Two Sigma Investments LP now owns 173,614 shares of the company’s stock worth $349,000 after buying an additional 78,197 shares in the last quarter. 45.24% of the stock is owned by institutional investors.

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.