Oppenheimer Cuts Relmada Therapeutics (NASDAQ:RLMD) Price Target to $64.00

Relmada Therapeutics (NASDAQ:RLMDGet Rating) had its target price reduced by stock analysts at Oppenheimer from $75.00 to $64.00 in a report issued on Monday, The Fly reports. Oppenheimer’s price objective points to a potential upside of 201.46% from the company’s current price.

RLMD has been the subject of several other research reports. The Goldman Sachs Group lowered their target price on shares of Relmada Therapeutics from $69.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, March 24th. Zacks Investment Research upgraded shares of Relmada Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 26th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $42.43.

NASDAQ:RLMD opened at $21.23 on Monday. Relmada Therapeutics has a 1 year low of $16.23 and a 1 year high of $39.66. The firm has a market cap of $624.86 million, a PE ratio of -2.95 and a beta of 0.51. The business’s 50-day simple moving average is $24.58.

Relmada Therapeutics (NASDAQ:RLMDGet Rating) last posted its earnings results on Wednesday, March 23rd. The company reported ($1.80) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.20). During the same period in the previous year, the firm posted ($1.28) earnings per share. On average, research analysts expect that Relmada Therapeutics will post -5.15 earnings per share for the current fiscal year.

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 shares were 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 of the company’s stock, valued at approximately $5,626,341.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.50% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC purchased a new position in shares of Relmada Therapeutics in the 4th quarter valued at approximately $56,000. Advisor Group Holdings Inc. lifted its holdings in shares of Relmada Therapeutics by 2,745.1% during the first quarter. Advisor Group Holdings Inc. now owns 2,902 shares of the company’s stock worth $79,000 after purchasing an additional 2,800 shares during the period. Nisa Investment Advisors LLC grew its position in Relmada Therapeutics by 14.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,077 shares of the company’s stock valued at $93,000 after buying an additional 651 shares during the last quarter. Byrne Asset Management LLC acquired a new position in Relmada Therapeutics in the 4th quarter valued at $131,000. Finally, Tortoise Investment Management LLC raised its position in Relmada Therapeutics by 20.8% during the 4th quarter. Tortoise Investment Management LLC now owns 6,681 shares of the company’s stock worth $151,000 after buying an additional 1,150 shares during the last quarter. 76.11% of the stock is owned by institutional investors.

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.

Featured Stories

The Fly logo

Receive News & Ratings for Relmada Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Relmada Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.