Relmada Therapeutics (NASDAQ:RLMD – Get Rating) had its price objective boosted by analysts at The Goldman Sachs Group from $49.00 to $81.00 in a report released on Friday, Stock Target Advisor reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 154.24% from the stock’s previous close.
Separately, Guggenheim upped their price target on Relmada Therapeutics from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th.
Relmada Therapeutics Stock Up 4.3 %
Shares of NASDAQ:RLMD traded up $1.32 during trading on Friday, reaching $31.86. 7,689 shares of the company traded hands, compared to its average volume of 429,772. The firm has a fifty day simple moving average of $28.44 and a 200 day simple moving average of $24.20. Relmada Therapeutics has a 1-year low of $15.73 and a 1-year high of $34.53. The firm has a market cap of $957.71 million, a P/E ratio of -4.54 and a beta of 0.62.
Insiders Place Their Bets
In other Relmada Therapeutics news, CEO Sergio Traversa sold 16,012 shares of Relmada Therapeutics stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $19.13, for a total value of $306,309.56. Following the transaction, the chief executive officer now directly owns 88,774 shares of the company’s stock, valued at approximately $1,698,246.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 9.50% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in RLMD. Captrust Financial Advisors grew its position in Relmada Therapeutics by 2,217.2% during the second quarter. Captrust Financial Advisors now owns 1,344 shares of the company’s stock worth $26,000 after buying an additional 1,286 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Relmada Therapeutics by 55.1% during the 1st quarter. Ameritas Investment Partners Inc. now owns 1,926 shares of the company’s stock worth $52,000 after purchasing an additional 684 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Relmada Therapeutics by 278.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 3,378 shares of the company’s stock worth $64,000 after purchasing an additional 2,485 shares in the last quarter. Advisor Group Holdings Inc. increased its position in shares of Relmada Therapeutics by 2,745.1% during the first quarter. Advisor Group Holdings Inc. now owns 2,902 shares of the company’s stock valued at $79,000 after purchasing an additional 2,800 shares during the period. Finally, Amalgamated Bank acquired a new position in shares of Relmada Therapeutics in the first quarter valued at $96,000. Institutional investors own 82.03% of the company’s stock.
Relmada Therapeutics Company Profile
Relmada Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing various products for the treatment of central nervous system (CNS) diseases and other disorders. Its lead product candidate is Esmethadone (d-methadone, dextromethadone, and REL-1017), a new chemical entity and N-methyl-D-aspartate receptor antagonist that is in Phase 3 clinical trials for the adjunctive or monotherapy treatment of major depressive disorder in adults.
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