Relmada Therapeutics, Inc. (NASDAQ:RLMD) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $12.00.

RLMD has been the topic of a number of research reports. 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 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Thursday, June 18th.

Relmada Therapeutics Stock Down 1.7%

RLMD opened at $5.14 on Thursday. The stock’s 50 day moving average price is $6.31 and its two-hundred day moving average price is $5.88. The firm has a market capitalization of $539.13 million, a P/E ratio of -4.72 and a beta of 0.41. Relmada Therapeutics has a 12-month low of $0.55 and a 12-month high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). As a group, analysts anticipate that Relmada Therapeutics will post -0.82 earnings per share for the current year.

Hedge Funds Weigh In On Relmada Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming bought a new stake in shares of Relmada Therapeutics in the 1st quarter worth approximately $88,000. Keebeck Wealth Management bought a new stake in shares of Relmada Therapeutics during the first quarter valued at approximately $90,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Relmada Therapeutics during the fourth quarter valued at approximately $64,000. Virtu Financial LLC acquired a new position in shares of Relmada Therapeutics in the fourth quarter valued at $85,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Relmada Therapeutics in the fourth quarter valued at $105,000. 45.24% of the stock is currently 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.