Relmada Therapeutics, Inc. (NASDAQ:RLMD) Receives $12.00 Average PT from Brokerages

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMDGet Free Report) have earned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $12.00.

RLMD has been the topic of several recent analyst reports. Mizuho lifted their price objective on shares of Relmada Therapeutics from $10.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 20th. Lucid Cap Mkts upgraded shares of Relmada Therapeutics to a “strong-buy” rating in a research report on Monday, March 2nd. Finally, Piper Sandler initiated coverage on shares of Relmada Therapeutics in a research report on Tuesday, March 24th. They set an “overweight” rating and a $12.00 price objective on the stock.

View Our Latest Report on RLMD

Institutional Investors Weigh In On Relmada Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. bought a new stake in Relmada Therapeutics in the first quarter worth $33,000. XTX Topco Ltd bought a new stake in Relmada Therapeutics in the second quarter worth $28,000. Marshall Wace LLP bought a new stake in Relmada Therapeutics in the second quarter worth $93,000. Jane Street Group LLC bought a new stake in Relmada Therapeutics in the second quarter worth $69,000. Finally, LMR Partners LLP bought a new stake in Relmada Therapeutics in the second quarter worth $33,000. Institutional investors own 45.24% of the company’s stock.

Relmada Therapeutics Price Performance

Relmada Therapeutics stock opened at $6.27 on Wednesday. The stock has a market cap of $657.66 million, a P/E ratio of -5.75 and a beta of 0.39. Relmada Therapeutics has a 1 year low of $0.52 and a 1 year high of $8.00. The firm’s 50 day moving average price is $7.05 and its 200-day moving average price is $5.42.

Relmada Therapeutics (NASDAQ:RLMDGet Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.04). As a group, equities analysts expect that Relmada Therapeutics will post -0.75 EPS for the current year.

About Relmada Therapeutics

(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.

Further Reading

Analyst Recommendations for Relmada Therapeutics (NASDAQ:RLMD)

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