Relmada Therapeutics, Inc. (NASDAQ:RLMD) Receives $12.00 Consensus Target Price from Analysts

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $12.00.

A number of brokerages have recently commented on RLMD. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Thursday, June 18th. HC Wainwright began coverage on shares of Relmada Therapeutics in a research report on Thursday, June 18th. They set a “buy” rating and a $12.00 price objective on the stock.

Institutional Investors Weigh In On Relmada Therapeutics

Several hedge funds have recently made changes to their positions in RLMD. XTX Topco Ltd purchased a new position in shares of Relmada Therapeutics during the second quarter worth about $28,000. LMR Partners LLP acquired a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $33,000. Goldman Sachs Group Inc. acquired a new stake in Relmada Therapeutics during the 1st quarter worth approximately $33,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Relmada Therapeutics in the 4th quarter valued at approximately $64,000. Finally, Jane Street Group LLC purchased a new position in shares of Relmada Therapeutics in the 2nd quarter valued at approximately $69,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

Relmada Therapeutics Stock Down 0.4%

Shares of NASDAQ RLMD opened at $5.18 on Thursday. The business has a fifty day simple moving average of $6.41 and a two-hundred day simple moving average of $5.85. The firm has a market cap of $543.33 million, a PE ratio of -4.75 and a beta of 0.41. Relmada Therapeutics has a twelve month low of $0.55 and a twelve month high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.04). On average, research analysts expect that Relmada Therapeutics will post -0.82 earnings per share for the current year.

Relmada Therapeutics Company Profile

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.