Q2 2022 EPS Estimates for Relmada Therapeutics, Inc. Decreased by Oppenheimer (NASDAQ:RLMD)

Relmada Therapeutics, Inc. (NASDAQ:RLMDGet Rating) – Investment analysts at Oppenheimer decreased their Q2 2022 earnings estimates for Relmada Therapeutics in a research note issued to investors on Sunday, May 8th. Oppenheimer analyst J. Olson now expects that the company will post earnings per share of ($1.30) for the quarter, down from their prior estimate of ($1.22). Oppenheimer also issued estimates for Relmada Therapeutics’ Q3 2022 earnings at ($1.31) EPS, Q4 2022 earnings at ($1.38) EPS, FY2022 earnings at ($5.39) EPS, FY2023 earnings at ($3.37) EPS, FY2024 earnings at ($2.37) EPS and FY2026 earnings at $0.02 EPS.

Several other brokerages have also commented on RLMD. Zacks Investment Research upgraded Relmada Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 26th. The Goldman Sachs Group lowered their price target on Relmada Therapeutics from $69.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, March 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Relmada Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $42.43.

NASDAQ:RLMD opened at $19.79 on Wednesday. Relmada Therapeutics has a twelve month low of $16.23 and a twelve month high of $39.66. The company has a market capitalization of $582.48 million, a P/E ratio of -2.84 and a beta of 0.51. The stock’s fifty day simple moving average is $24.57.

Relmada Therapeutics (NASDAQ:RLMDGet Rating) last issued its quarterly earnings results on Wednesday, March 23rd. The company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.20). During the same period in the prior year, the company posted ($1.28) earnings per share.

In other news, Director Paul Edward Kelly sold 10,000 shares of the company’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $30.04, for a total value of $300,400.00. Following the transaction, the director now owns 187,295 shares of the company’s stock, valued at approximately $5,626,341.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.50% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RLMD. Point72 Asset Management L.P. increased its holdings in shares of Relmada Therapeutics by 330.1% in the 4th quarter. Point72 Asset Management L.P. now owns 946,313 shares of the company’s stock valued at $21,320,000 after acquiring an additional 726,313 shares during the last quarter. Morgan Stanley grew its stake in Relmada Therapeutics by 1,604.7% during the 3rd quarter. Morgan Stanley now owns 449,341 shares of the company’s stock worth $11,777,000 after buying an additional 422,982 shares during the last quarter. Millennium Management LLC grew its stake in Relmada Therapeutics by 1,468.7% during the 3rd quarter. Millennium Management LLC now owns 254,580 shares of the company’s stock worth $6,673,000 after buying an additional 238,351 shares during the last quarter. Altium Capital Management LP purchased a new position in Relmada Therapeutics during the 4th quarter worth approximately $4,641,000. Finally, BlackRock Inc. grew its stake in 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 buying an additional 174,994 shares during the last quarter. Institutional investors and hedge funds own 76.11% 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.

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Earnings History and Estimates for Relmada Therapeutics (NASDAQ:RLMD)

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