Relmada Therapeutics (NASDAQ:RLMD) Now Covered by Piper Sandler

Piper Sandler started coverage on shares of Relmada Therapeutics (NASDAQ:RLMD) in a research report sent to investors on Tuesday, MarketBeat.com reports. The firm issued an overweight rating and a $12.00 price target on the stock.

Several other research analysts have also issued reports on RLMD. Jefferies Financial Group started coverage on Relmada Therapeutics in a research report on Monday, December 22nd. They set a “buy” rating and a $9.00 target price on the stock. Mizuho boosted their price target on Relmada Therapeutics from $10.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, March 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Relmada Therapeutics in a report on Wednesday, January 28th. Zacks Research raised shares of Relmada Therapeutics to a “hold” rating in a research report on Tuesday, January 27th. Finally, Leerink Partners upgraded shares of Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 target price for the company in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Relmada Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Relmada Therapeutics Trading Up 4.1%

Shares of RLMD stock opened at $6.10 on Tuesday. The business’s fifty day simple moving average is $4.58 and its 200-day simple moving average is $3.66. The company has a market cap of $447.31 million, a PE ratio of -4.21 and a beta of 0.72. Relmada Therapeutics has a 12-month low of $0.24 and a 12-month high of $7.51.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings data on Thursday, March 19th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.13). On average, equities analysts forecast that Relmada Therapeutics will post -2.73 earnings per share for the current year.

Institutional Trading of Relmada Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new position in shares of Relmada Therapeutics in the first quarter valued at about $33,000. XTX Topco Ltd purchased a new position in shares of Relmada Therapeutics in the second quarter worth about $28,000. Marshall Wace LLP acquired a new stake in shares of Relmada Therapeutics during the second quarter worth about $93,000. Jane Street Group LLC acquired a new stake in shares of Relmada Therapeutics during the second quarter worth about $69,000. Finally, LMR Partners LLP purchased a new stake in Relmada Therapeutics in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

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.