Relmada Therapeutics, Inc. (NASDAQ:RLMD) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $12.00.

Several analysts recently issued reports on the company. HC Wainwright began coverage on Relmada Therapeutics in a report on Thursday, June 18th. They set a “buy” rating and a $12.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Relmada Therapeutics in a research note on Thursday, June 18th.

Hedge Funds Weigh In On Relmada Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in RLMD. Jupiter Topco LLC bought a new stake in Relmada Therapeutics during the second quarter worth $77,316,000. Janus Henderson Group PLC increased its stake in shares of Relmada Therapeutics by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 11,063,862 shares of the company’s stock worth $76,892,000 after purchasing an additional 3,793,862 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Relmada Therapeutics during the 2nd quarter worth about $51,393,000. Squadron Capital Management LLC bought a new stake in shares of Relmada Therapeutics in the 4th quarter valued at about $32,361,000. Finally, Spruce Street Capital LP bought a new stake in shares of Relmada Therapeutics in the 2nd quarter valued at about $44,227,990. 45.24% of the stock is owned by institutional investors.

Relmada Therapeutics Trading Down 0.5%

Relmada Therapeutics stock opened at $4.07 on Friday. Relmada Therapeutics has a 1-year low of $1.44 and a 1-year high of $8.00. The company has a fifty day simple moving average of $5.10 and a 200 day simple moving average of $6.05. The company has a market cap of $434.15 million, a P/E ratio of -4.52 and a beta of 0.45.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.09. On average, equities research analysts forecast that Relmada Therapeutics will post -0.6 EPS for the current year.

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.