Relmada Therapeutics, Inc. (NASDAQ:RLMD) Stock Has Consensus Target Price of $12.00

Key Points

• Analysts maintain a Moderate Buy consensus on Relmada Therapeutics, with five buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $12.00, compared with the stock’s reported opening price of $3.48.
• Insider and institutional ownership remains notable: CFO Maged Shenouda bought 120,200 shares for roughly $504,840, while insiders own 14.5% and institutional investors hold 45.24% of the company.
• Relmada, a clinical-stage biotech focused on central nervous system disorders, reported quarterly EPS of -$0.11, beating the consensus estimate of -$0.20. Analysts expect a full-year loss of approximately $0.62 per share.

Relmada Therapeutics, Inc. (NASDAQ:RLMD - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $12.00.

Several equities research analysts have recently weighed in on RLMD shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Relmada Therapeutics in a research note on Monday, September 14th. HC Wainwright started coverage on shares of Relmada Therapeutics in a report on Thursday, June 18th. They set a "buy" rating and a $12.00 price target on the stock.

Insider Activity at Relmada Therapeutics

In other Relmada Therapeutics news, CFO Maged Shenouda purchased 120,200 shares of the firm's stock in a transaction that occurred on Wednesday, September 9th. The stock was purchased at an average cost of $4.20 per share, with a total value of $504,840.00. Following the purchase, the chief financial officer owned 920,200 shares of the company's stock, valued at approximately $3,864,840. The trade was a 15.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 14.50% of the company's stock.

Institutional Trading of Relmada Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of RLMD. Walleye Capital LLC purchased a new position in Relmada Therapeutics in the 2nd quarter worth about $4,264,000. Bank of New York Mellon Corp bought a new position in Relmada Therapeutics in the 2nd quarter worth about $2,046,000. BlackRock Inc. purchased a new position in shares of Relmada Therapeutics during the second quarter worth approximately $51,393,000. Janus Henderson Group PLC increased its position in shares of Relmada Therapeutics by 52.2% during the first quarter. Janus Henderson Group PLC now owns 11,063,862 shares of the company's stock worth $76,892,000 after acquiring an additional 3,793,862 shares during the period. Finally, Deutsche Bank AG bought a new stake in shares of Relmada Therapeutics during the second quarter valued at approximately $2,207,000. Hedge funds and other institutional investors own 45.24% of the company's stock.

Relmada Therapeutics Trading Down 3.3%

Shares of NASDAQ RLMD opened at $3.48 on Tuesday. Relmada Therapeutics has a 12-month low of $1.80 and a 12-month high of $8.00. The firm's 50-day moving average price is $4.48 and its 200-day moving average price is $5.90. The stock has a market capitalization of $371.21 million, a price-to-earnings ratio of -3.87 and a beta of 0.51.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.09. On average, equities analysts predict that Relmada Therapeutics will post -0.62 EPS for the current fiscal year.

Relmada Therapeutics Company Profile

Relmada Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for central nervous system disorders, particularly major depressive disorder and other conditions associated with significant unmet medical needs. The company is headquartered in the United States and conducts its research and clinical development activities through collaborations and trials involving patients and research sites in multiple regions.

Relmada's lead product candidate is REL-1017, also known as esmethadone or dextromethadone.

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