Relmada Therapeutics, Inc. (NASDAQ:RLMD) Given Consensus Rating of “Moderate Buy” by Analysts

Relmada Therapeutics, Inc. (NASDAQ:RLMD) has received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $9.00.

Several equities research analysts recently issued reports on RLMD shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Relmada Therapeutics in a report on Wednesday, January 28th. Mizuho set a $10.00 price target on shares of Relmada Therapeutics in a research report on Friday, March 13th. Zacks Research raised shares of Relmada Therapeutics to a “hold” rating in a research note on Tuesday, January 27th. Leerink Partners raised shares of Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 price objective for the company in a research note on Friday, January 23rd. Finally, Lucid Cap Mkts upgraded shares of Relmada Therapeutics to a “strong-buy” rating in a research report on Monday, March 2nd.

Institutional Investors Weigh In On Relmada Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd purchased a new position in shares of Relmada Therapeutics in the second quarter valued at about $28,000. Goldman Sachs Group Inc. purchased a new stake in shares of Relmada Therapeutics during the first quarter worth about $33,000. LMR Partners LLP bought a new stake in Relmada Therapeutics during the 2nd quarter valued at approximately $33,000. Schonfeld Strategic Advisors LLC bought a new stake in Relmada Therapeutics during the 4th quarter valued at approximately $64,000. Finally, Jane Street Group LLC purchased a new position in Relmada Therapeutics in the 2nd quarter worth approximately $69,000. 45.24% of the stock is owned by institutional investors.

Relmada Therapeutics Stock Up 0.6%

RLMD stock opened at $6.25 on Friday. Relmada Therapeutics has a twelve month low of $0.24 and a twelve month high of $7.51. The stock has a market cap of $458.31 million, a P/E ratio of -3.47 and a beta of 0.72. The business’s 50-day moving average price is $4.47 and its 200-day moving average price is $3.53.

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.