Relmada Therapeutics, Inc. (NASDAQ:RLMD – Get Free Report) has been given an average rating of “Moderate Buy” by the eight research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $12.00.
A number of equities research analysts have commented on the stock. HC Wainwright began coverage on shares of Relmada Therapeutics in a research note on Thursday, June 18th. They set a “buy” rating and a $12.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Relmada Therapeutics in a research note on Monday, September 14th.
Read Our Latest Report on RLMD
Relmada Therapeutics Stock Performance
Relmada Therapeutics (NASDAQ:RLMD – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.09. Analysts predict that Relmada Therapeutics will post -0.62 EPS for the current year.
Insiders Place Their Bets
In other news, CFO Maged Shenouda bought 120,200 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was bought at an average price of $4.20 per share, with a total value of $504,840.00. Following the acquisition, the chief financial officer owned 920,200 shares of the company’s stock, valued at approximately $3,864,840. This represents a 15.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 14.50% of the company’s stock.
Institutional Investors Weigh In On Relmada Therapeutics
Institutional investors and hedge funds have recently bought and sold shares of the business. Jupiter Topco LLC purchased a new position in Relmada Therapeutics during the 2nd quarter valued at approximately $77,316,000. Janus Henderson Group PLC raised its holdings 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 acquiring an additional 3,793,862 shares in the last quarter. BlackRock Inc. bought a new position in shares of Relmada Therapeutics during the 2nd quarter valued at approximately $51,393,000. Spruce Street Capital LP bought a new position in shares of Relmada Therapeutics during the 2nd quarter valued at approximately $44,227,990. Finally, Orbimed Advisors LLC grew its stake in shares of Relmada Therapeutics by 80.6% in the 1st quarter. Orbimed Advisors LLC now owns 4,715,864 shares of the company’s stock worth $32,822,000 after buying an additional 2,105,264 shares in the last quarter. 45.24% of the stock is owned by institutional investors.
About Relmada Therapeutics
Relmada Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for central nervous system disorders, particularly major depressive disorder and other conditions associated with significant unmet medical needs. The company is headquartered in the United States and conducts its research and clinical development activities through collaborations and trials involving patients and research sites in multiple regions.
Relmada’s lead product candidate is REL-1017, also known as esmethadone or dextromethadone.
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