Relmada Therapeutics, Inc. (NASDAQ:RLMD) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Relmada Therapeutics, Inc. (NASDAQ:RLMD - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seven analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $12.00.

Several research analysts have commented on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Relmada Therapeutics in a report on Wednesday, January 28th. Mizuho upped their target price on shares of Relmada Therapeutics from $10.00 to $19.00 and gave the company an "outperform" rating in a report on Friday, March 20th. Lucid Cap Mkts upgraded shares of Relmada Therapeutics to a "strong-buy" rating in a report on Monday, March 2nd. Leerink Partners upgraded shares of Relmada Therapeutics from a "market perform" rating to an "outperform" rating and set a $8.00 target price for the company in a report on Friday, January 23rd. Finally, Piper Sandler started coverage on shares of Relmada Therapeutics in a report on Tuesday, March 24th. They issued an "overweight" rating and a $12.00 target price for the company.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Hillsdale Investment Management Inc. acquired a new position in shares of Relmada Therapeutics in the 1st quarter valued at $373,000. Corient Private Wealth LLC boosted its holdings in shares of Relmada Therapeutics by 248.2% in the 4th quarter. Corient Private Wealth LLC now owns 719,582 shares of the company's stock valued at $3,443,000 after buying an additional 512,915 shares in the last quarter. Seven Fleet Capital Management LP acquired a new position in shares of Relmada Therapeutics in the 4th quarter valued at $744,000. Virtu Financial LLC acquired a new position in shares of Relmada Therapeutics in the 4th quarter valued at $85,000. Finally, XTX Topco Ltd purchased a new stake in Relmada Therapeutics in the 4th quarter valued at $199,000. Institutional investors and hedge funds own 45.24% of the company's stock.

Relmada Therapeutics Stock Down 1.5%

NASDAQ RLMD opened at $7.32 on Friday. Relmada Therapeutics has a 52 week low of $0.36 and a 52 week high of $8.00. The stock has a market capitalization of $767.79 million, a PE ratio of -5.05 and a beta of 0.43. The firm has a 50 day moving average of $6.51 and a two-hundred day moving average of $4.77.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.13). On average, equities research analysts expect that Relmada Therapeutics will post -0.72 earnings per share for the current fiscal year.

About Relmada Therapeutics

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.

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