Relmada Therapeutics (NASDAQ:RLMD) Releases Earnings Results, Beats Estimates By $0.08 EPS

Relmada Therapeutics (NASDAQ:RLMD) posted its quarterly earnings results on Thursday. The company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.08, Zacks reports.

Relmada Therapeutics Price Performance

Relmada Therapeutics stock opened at $0.30 on Friday. The stock has a market capitalization of $8.99 million, a PE ratio of -0.10 and a beta of 0.65. Relmada Therapeutics has a 12 month low of $0.24 and a 12 month high of $5.09. The business has a 50 day simple moving average of $0.31 and a 200-day simple moving average of $1.61.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RLMD. Mizuho reissued a “neutral” rating and set a $1.00 target price (down previously from $23.00) on shares of Relmada Therapeutics in a research report on Thursday, December 5th. Leerink Partnrs cut shares of Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Finally, Leerink Partners reissued a “market perform” rating and set a $1.00 price objective (down from $10.00) on shares of Relmada Therapeutics in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.25.

About Relmada Therapeutics

Relmada Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing various products for the treatment of central nervous system diseases (CNS) and other disorders in the United States. Its lead product candidate is Esmethadone (d-methadone, dextromethadone, and REL-1017), a N-methyl-D-aspartate receptor antagonist which is in phase 3 clinical trial for the adjunctive or monotherapy treatment of major depressive disorder.