Mizuho Increases Relmada Therapeutics (NASDAQ:RLMD) Price Target to $19.00

Relmada Therapeutics (NASDAQ:RLMD) had its price target lifted by equities researchers at Mizuho from $10.00 to $19.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective would indicate a potential upside of 203.51% from the stock’s current price.

RLMD has been the topic of a number of other research reports. Leerink Partners upgraded 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Relmada Therapeutics in a research report on Wednesday, January 28th. Jefferies Financial Group started coverage on Relmada Therapeutics in a research report on Monday, December 22nd. They issued a “buy” rating and a $9.00 price objective on the stock. Zacks Research upgraded Relmada Therapeutics to a “hold” rating in a research note on Tuesday, January 27th. Finally, Lucid Cap Mkts upgraded Relmada Therapeutics to a “strong-buy” rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Relmada Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Relmada Therapeutics Price Performance

Shares of NASDAQ RLMD traded up $0.01 during trading on Friday, hitting $6.26. The stock had a trading volume of 236,452 shares, compared to its average volume of 1,531,300. The firm has a fifty day moving average of $4.47 and a two-hundred day moving average of $3.53. The company has a market capitalization of $459.05 million, a PE ratio of -3.50 and a beta of 0.72. Relmada Therapeutics has a 12 month low of $0.24 and a 12 month high of $7.51.

Relmada Therapeutics (NASDAQ:RLMD) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.13). On average, equities analysts expect that Relmada Therapeutics will post -2.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Relmada Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in Relmada Therapeutics in the second quarter worth $28,000. Goldman Sachs Group Inc. bought a new stake in Relmada Therapeutics during the 1st quarter valued at $33,000. LMR Partners LLP purchased a new position in Relmada Therapeutics during the 2nd quarter valued at about $33,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Relmada Therapeutics in the fourth quarter worth $64,000. Finally, Jane Street Group LLC purchased a new stake in shares of Relmada Therapeutics during the 2nd quarter valued at $69,000. 45.24% of the stock is owned by institutional investors.

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.