Relmada Therapeutics, Inc. (NASDAQ:RLMD) Receives Average Recommendation of “Hold” from Analysts

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have earned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $9.00.

A number of equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Relmada Therapeutics to a “hold” rating in a report on Saturday, October 11th. Leerink Partners raised shares of Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 price objective on the stock in a research note on Friday, January 23rd. Mizuho raised Relmada Therapeutics from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $1.00 to $10.00 in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Relmada Therapeutics in a report on Wednesday, January 28th. Finally, Zacks Research raised Relmada Therapeutics to a “hold” rating in a research note on Tuesday, January 27th.

Insiders Place Their Bets

In other news, CFO Maged Shenouda bought 11,665 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was acquired at an average price of $4.12 per share, with a total value of $48,059.80. Following the transaction, the chief financial officer owned 800,000 shares of the company’s stock, valued at $3,296,000. This trade represents a 1.48% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Relmada Therapeutics

A number of institutional investors have recently modified their holdings of the company. AdvisorShares Investments LLC increased its position in shares of Relmada Therapeutics by 1.8% during the third quarter. AdvisorShares Investments LLC now owns 403,488 shares of the company’s stock worth $811,000 after acquiring an additional 6,974 shares in the last quarter. XTX Topco Ltd bought a new position in Relmada Therapeutics in the 2nd quarter valued at about $28,000. LMR Partners LLP acquired a new position in Relmada Therapeutics during the 2nd quarter valued at about $33,000. Two Sigma Investments LP boosted its stake in Relmada Therapeutics by 82.0% during the 3rd quarter. Two Sigma Investments LP now owns 173,614 shares of the company’s stock valued at $349,000 after purchasing an additional 78,197 shares during the last quarter. Finally, Parsons Capital Management Inc. RI increased its holdings in Relmada Therapeutics by 61.0% during the 4th quarter. Parsons Capital Management Inc. RI now owns 263,000 shares of the company’s stock worth $1,270,000 after purchasing an additional 99,664 shares in the last quarter. 45.24% of the stock is owned by institutional investors.

Relmada Therapeutics Stock Down 3.9%

Shares of RLMD opened at $3.65 on Thursday. The stock has a market cap of $267.65 million, a PE ratio of -2.03 and a beta of 0.76. Relmada Therapeutics has a 12-month low of $0.24 and a 12-month high of $5.12. The business has a 50-day simple moving average of $4.17 and a two-hundred day simple moving average of $2.64.

Relmada Therapeutics (NASDAQ:RLMD) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.26). On average, equities research analysts expect that Relmada Therapeutics will post -2.73 EPS 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.