Analysts Set Relmada Therapeutics, Inc. (NASDAQ:RLMD) PT at $9.00

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have received a consensus rating of “Hold” from the five ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $9.00.

A number of analysts recently issued reports on RLMD shares. Mizuho upgraded Relmada Therapeutics from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $1.00 to $10.00 in a research report on Wednesday, November 19th. Jefferies Financial Group initiated coverage on shares of Relmada Therapeutics in a research note on Monday, December 22nd. They set a “buy” rating and a $9.00 price target for the company. Wall Street Zen raised shares of Relmada Therapeutics to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Relmada Therapeutics in a research note on Wednesday. Finally, Leerink Partners raised Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 target price on the stock in a research note on Friday, January 23rd.

Insider Activity

In other Relmada Therapeutics news, COO Paul Edward Kelly purchased 90,000 shares of Relmada Therapeutics stock in a transaction dated Wednesday, November 5th. The stock was acquired at an average price of $2.20 per share, for a total transaction of $198,000.00. Following the acquisition, the chief operating officer owned 502,295 shares in the company, valued at $1,105,049. This trade represents a 21.83% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Chuck Ence bought 136,000 shares of the stock in a transaction on Wednesday, November 5th. The shares were bought at an average price of $2.20 per share, with a total value of $299,200.00. Following the acquisition, the chief operating officer owned 403,931 shares of the company’s stock, valued at $888,648.20. This trade represents a 50.76% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 737,665 shares of company stock valued at $1,645,260. Corporate insiders own 20.70% of the company’s stock.

Institutional Trading of Relmada Therapeutics

A number of institutional investors have recently modified their holdings of RLMD. AdvisorShares Investments LLC boosted its stake in Relmada Therapeutics by 1.8% in the third quarter. AdvisorShares Investments LLC now owns 403,488 shares of the company’s stock valued at $811,000 after acquiring an additional 6,974 shares in the last quarter. XTX Topco Ltd purchased a new position in Relmada Therapeutics in the 2nd quarter worth $28,000. LMR Partners LLP purchased a new position in shares of Relmada Therapeutics in the second quarter worth about $33,000. Two Sigma Investments LP boosted its position in Relmada Therapeutics by 82.0% in the third quarter. Two Sigma Investments LP now owns 173,614 shares of the company’s stock valued at $349,000 after buying an additional 78,197 shares during the last quarter. Finally, Parsons Capital Management Inc. RI increased its holdings in Relmada Therapeutics by 61.0% in the 4th quarter. Parsons Capital Management Inc. RI now owns 263,000 shares of the company’s stock worth $1,270,000 after buying an additional 99,664 shares during the period. 45.24% of the stock is currently owned by institutional investors.

Relmada Therapeutics Trading Down 9.2%

Shares of NASDAQ RLMD opened at $3.55 on Thursday. Relmada Therapeutics has a 1-year low of $0.24 and a 1-year high of $5.12. The stock’s 50-day moving average is $4.20 and its 200 day moving average is $2.58. The stock has a market cap of $260.32 million, a price-to-earnings ratio of -1.97 and a beta of 0.77.

Relmada Therapeutics (NASDAQ:RLMD) last posted its earnings results on Thursday, November 13th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.26). On average, analysts forecast that Relmada Therapeutics will post -2.73 EPS for the current fiscal year.

About Relmada Therapeutics

Relmada Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for pain and other central nervous system (CNS) disorders. The company applies a proprietary stereochemical approach to optimized drug candidates, aiming to improve safety, tolerability and efficacy profiles compared with existing treatments. Relmada’s research efforts center on modulation of NMDA receptors to address unmet needs in depression, neuropathic pain and related indications.

Relmada’s lead product candidate, REL-1017 (d-methadone), is being evaluated as a potential rapid-acting and maintenance treatment for major depressive disorder, with clinical studies underway to assess its utility in both acute and long-term settings.