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

Relmada Therapeutics, Inc. (NASDAQ:RLMD) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $12.00.

Several research firms recently weighed in on RLMD. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relmada Therapeutics in a research note on Thursday, June 18th. HC Wainwright started coverage on shares of Relmada Therapeutics in a report on Thursday, June 18th. They issued a “buy” rating and a $12.00 target price for the company.

Relmada Therapeutics Price Performance

NASDAQ RLMD opened at $4.80 on Monday. The business has a fifty day moving average price of $5.88 and a two-hundred day moving average price of $5.98. Relmada Therapeutics has a fifty-two week low of $0.59 and a fifty-two week high of $8.00. The stock has a market capitalization of $512.02 million, a PE ratio of -5.33 and a beta of 0.46.

Relmada Therapeutics (NASDAQ:RLMD) last issued 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. As a group, sell-side analysts expect that Relmada Therapeutics will post -0.6 earnings per share for the current year.

Hedge Funds Weigh In On Relmada Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $64,000. State of Wyoming bought a new position in shares of Relmada Therapeutics during the first quarter valued at $88,000. Keebeck Wealth Management bought a new position in shares of Relmada Therapeutics during the first quarter valued at $90,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Relmada Therapeutics during the fourth quarter worth $64,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Relmada Therapeutics by 9.0% during the fourth quarter. Renaissance Technologies LLC now owns 185,000 shares of the company’s stock worth $894,000 after purchasing an additional 15,300 shares during the period. 45.24% of the stock is currently owned by institutional investors and hedge funds.

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.