Relmada Therapeutics (NASDAQ:RLMD) Price Target Raised to $19.00

Relmada Therapeutics (NASDAQ:RLMD) had its price objective hoisted by equities research analysts at Mizuho from $10.00 to $19.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 203.51% from the stock’s previous close.

RLMD has been the topic of a number of other research reports. Lucid Cap Mkts upgraded shares of Relmada Therapeutics to a “strong-buy” rating in a research report on Monday, March 2nd. Zacks Research raised shares of Relmada Therapeutics to a “hold” rating in a research note on Tuesday, January 27th. Leerink Partners upgraded 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 report on Friday, January 23rd. Jefferies Financial Group assumed coverage on Relmada Therapeutics in a research note on Monday, December 22nd. They issued a “buy” rating and a $9.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Relmada Therapeutics in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Relmada Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Relmada Therapeutics Price Performance

Shares of Relmada Therapeutics stock traded up $0.01 on Friday, hitting $6.26. 236,452 shares of the company’s stock traded hands, compared to its average volume of 1,531,300. The company has a fifty day moving average of $4.47 and a two-hundred day moving average of $3.53. Relmada Therapeutics has a one year low of $0.24 and a one year high of $7.51. The company has a market capitalization of $459.05 million, a price-to-earnings ratio of -3.50 and a beta of 0.72.

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

Institutional Investors Weigh In On Relmada Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC bought a new position in Relmada Therapeutics in the 2nd quarter valued at about $120,000. Seven Fleet Capital Management LP purchased a new stake in shares of Relmada Therapeutics in the fourth quarter worth approximately $744,000. Virtu Financial LLC purchased a new stake in shares of Relmada Therapeutics in the fourth quarter worth approximately $85,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Relmada Therapeutics in the fourth quarter valued at approximately $64,000. Finally, LMR Partners LLP bought a new position in shares of Relmada Therapeutics in the second quarter valued at approximately $33,000. 45.24% of the stock is owned by institutional investors.

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.