Relmada Therapeutics, Inc. (NASDAQ:RLMD) Given Consensus Recommendation of “Hold” by Brokerages

Relmada Therapeutics, Inc. (NASDAQ:RLMD) has earned an average rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $10.80.

Separately, Mizuho reduced their target price on shares of Relmada Therapeutics from $26.00 to $25.00 in a report on Thursday, August 10th.

Relmada Therapeutics Stock Performance

Shares of NASDAQ RLMD opened at $3.55 on Monday. The firm has a market capitalization of $106.85 million, a P/E ratio of -0.83 and a beta of 0.08. Relmada Therapeutics has a one year low of $1.81 and a one year high of $38.68. The company’s fifty day moving average is $2.94 and its two-hundred day moving average is $2.84.

Relmada Therapeutics (NASDAQ:RLMD) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.08. On average, sell-side analysts forecast that Relmada Therapeutics will post -3.69 earnings per share for the current fiscal year.

Institutional Trading of Relmada Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. American International Group Inc. boosted its stake in shares of Relmada Therapeutics by 4.0% during the 2nd quarter. American International Group Inc. now owns 12,819 shares of the company’s stock valued at $243,000 after buying an additional 488 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Relmada Therapeutics by 55.1% during the 1st quarter. Ameritas Investment Partners Inc. now owns 1,926 shares of the company’s stock valued at $52,000 after buying an additional 684 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Relmada Therapeutics by 2,217.2% during the 2nd quarter. Captrust Financial Advisors now owns 1,344 shares of the company’s stock valued at $26,000 after buying an additional 1,286 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Relmada Therapeutics by 19.4% during the 4th quarter. Bank of America Corp DE now owns 16,560 shares of the company’s stock valued at $58,000 after buying an additional 2,695 shares during the last quarter. Finally, Advisor Group Holdings Inc. boosted its stake in shares of Relmada Therapeutics by 2,745.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,902 shares of the company’s stock valued at $79,000 after buying an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 53.50% of the company’s stock.

About Relmada Therapeutics

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.