Relmada Therapeutics (NASDAQ:RLMD) Posts Earnings Results, Misses Expectations By $0.04 EPS

Relmada Therapeutics (NASDAQ:RLMDGet Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04), FiscalAI reports.

Relmada Therapeutics Trading Up 1.2%

NASDAQ RLMD traded up $0.09 on Tuesday, reaching $7.45. 1,441,582 shares of the stock were exchanged, compared to its average volume of 1,435,479. Relmada Therapeutics has a one year low of $0.36 and a one year high of $8.00. The firm has a market capitalization of $781.43 million, a PE ratio of -5.14 and a beta of 0.43. The company’s 50-day simple moving average is $6.62 and its two-hundred day simple moving average is $4.84.

Institutional Investors Weigh In On Relmada Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RLMD. Goldman Sachs Group Inc. bought a new stake in Relmada Therapeutics during the 1st quarter worth approximately $33,000. XTX Topco Ltd bought a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $28,000. Marshall Wace LLP bought a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $93,000. Jane Street Group LLC bought a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $69,000. Finally, LMR Partners LLP bought a new stake in shares of Relmada Therapeutics during the second quarter valued at approximately $33,000. Institutional investors own 45.24% of the company’s stock.

Analyst Ratings Changes

RLMD has been the topic of a number of recent analyst reports. Mizuho raised their price target on shares of Relmada Therapeutics from $10.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 20th. Lucid Cap Mkts raised shares of Relmada Therapeutics to a “strong-buy” rating in a report on Monday, March 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Relmada Therapeutics in a report on Wednesday, January 28th. Piper Sandler assumed coverage on shares of Relmada Therapeutics in a report on Tuesday, March 24th. They issued an “overweight” rating and a $12.00 price objective on the stock. Finally, Zacks Research raised shares of Relmada Therapeutics to a “hold” rating in a report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Check Out Our Latest Report on RLMD

Relmada Therapeutics Company Profile

(Get Free Report)

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.

Recommended Stories

Earnings History for Relmada Therapeutics (NASDAQ:RLMD)

Receive News & Ratings for Relmada Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Relmada Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.