Relmada Therapeutics (NASDAQ:RLMD) Price Target Increased to $60.00 by Analysts at Guggenheim

Relmada Therapeutics (NASDAQ:RLMDGet Rating) had its price objective boosted by Guggenheim from $50.00 to $60.00 in a report released on Tuesday morning, The Fly reports. They currently have a buy rating on the stock.

Separately, Oppenheimer cut their price objective on shares of Relmada Therapeutics from $75.00 to $64.00 in a research report on Monday, May 9th.

Relmada Therapeutics Stock Up 3.9 %

RLMD stock opened at $30.89 on Tuesday. Relmada Therapeutics has a twelve month low of $15.73 and a twelve month high of $33.82. The stock has a market capitalization of $928.58 million, a price-to-earnings ratio of -4.26 and a beta of 0.62. The firm’s fifty day simple moving average is $24.53 and its two-hundred day simple moving average is $22.89.

Relmada Therapeutics (NASDAQ:RLMDGet Rating) last posted its quarterly earnings data on Thursday, August 11th. The company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.03). As a group, equities research analysts expect that Relmada Therapeutics will post -5.55 EPS for the current year.

Insider Activity

In other news, CEO Sergio Traversa sold 16,012 shares of the business’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $19.13, for a total transaction of $306,309.56. Following the completion of the sale, the chief executive officer now directly owns 88,774 shares of the company’s stock, valued at $1,698,246.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.50% of the company’s stock.

Institutional Trading of Relmada Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors lifted its stake in Relmada Therapeutics by 2,217.2% in the second quarter. Captrust Financial Advisors now owns 1,344 shares of the company’s stock worth $26,000 after acquiring an additional 1,286 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Relmada Therapeutics by 55.1% in the first quarter. Ameritas Investment Partners Inc. now owns 1,926 shares of the company’s stock worth $52,000 after acquiring an additional 684 shares during the period. Advisor Group Holdings Inc. lifted its stake in Relmada Therapeutics by 2,745.1% in the first quarter. Advisor Group Holdings Inc. now owns 2,902 shares of the company’s stock worth $79,000 after acquiring an additional 2,800 shares during the period. Exchange Traded Concepts LLC lifted its stake in Relmada Therapeutics by 278.3% in the second quarter. Exchange Traded Concepts LLC now owns 3,378 shares of the company’s stock worth $64,000 after acquiring an additional 2,485 shares during the period. Finally, Amalgamated Bank purchased a new stake in shares of Relmada Therapeutics during the first quarter valued at about $96,000. 82.03% of the stock is owned by hedge funds and other 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.

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