Relmada Therapeutics (RLMD) to Release Quarterly Earnings on Thursday

Relmada Therapeutics (NASDAQ:RLMD – Get Rating) will issue its quarterly earnings data after the market closes on Thursday, May 5th. Analysts expect the company to announce earnings of ($1.21) per share for the quarter.

Relmada Therapeutics (NASDAQ:RLMD – Get Rating) last posted its quarterly earnings results on Wednesday, March 23rd. The company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.20). During the same quarter last year, the business earned ($1.28) EPS. On average, analysts expect Relmada Therapeutics to post $-5 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

NASDAQ RLMD opened at $24.16 on Friday. The company has a fifty day simple moving average of $24.05 and a 200 day simple moving average of $22.00. Relmada Therapeutics has a 12-month low of $16.23 and a 12-month high of $39.66. The company has a market cap of $711.10 million, a P/E ratio of -3.38 and a beta of 0.45.

RLMD has been the subject of several research reports. The Goldman Sachs Group reduced their price target on shares of Relmada Therapeutics from $69.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, March 24th. Zacks Investment Research upgraded Relmada Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 26th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $38.11.

In other Relmada Therapeutics news, Director Paul Edward Kelly sold 10,000 shares of the firm’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $30.04, for a total transaction of $300,400.00. Following the transaction, the director now directly owns 187,295 shares in the company, valued at approximately $5,626,341.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Relmada Therapeutics by 14.5% during the 4th quarter. BlackRock Inc. now owns 1,385,235 shares of the company’s stock worth $31,211,000 after purchasing an additional 174,994 shares during the period. Geode Capital Management LLC raised its stake in shares of Relmada Therapeutics by 35.6% during the 4th quarter. Geode Capital Management LLC now owns 343,957 shares of the company’s stock worth $7,749,000 after purchasing an additional 90,254 shares during the period. Norges Bank bought a new stake in shares of Relmada Therapeutics during the 4th quarter worth $2,219,000. Charles Schwab Investment Management Inc. raised its stake in shares of Relmada Therapeutics by 10.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 45,375 shares of the company’s stock worth $1,023,000 after purchasing an additional 4,118 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of Relmada Therapeutics by 60.7% during the 4th quarter. California State Teachers Retirement System now owns 28,366 shares of the company’s stock worth $639,000 after purchasing an additional 10,710 shares during the period. Institutional investors own 52.89% of the company’s stock.

Relmada Therapeutics Company Profile (Get Rating)

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

Further Reading