Relmada Therapeutics (NASDAQ:RLMD) Hits New 12-Month High - Should You Buy?

Key Points

• Relmada Therapeutics hit a new 52-week high of $7.53 (last $7.50), rising about 7.2% on roughly 685,212 shares traded, indicating short-term momentum.
• Analyst sentiment is mixed but tilted positive — the consensus rating is Moderate Buy with an average price target of $12, supported by several recent Buy/Outperform/Overweight calls.
• The company remains clinical-stage and unprofitable (Q earnings: EPS -$0.27 vs -$0.14 expected; analysts forecast -2.73 EPS for the year), so future gains depend heavily on progress of lead candidate REL-1017.

Relmada Therapeutics, Inc. (NASDAQ:RLMD - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as $7.53 and last traded at $7.50, with a volume of 685212 shares traded. The stock had previously closed at $7.01.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Lucid Cap Mkts raised shares of Relmada Therapeutics to a "strong-buy" rating in a research report on Monday, March 2nd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Relmada Therapeutics in a research report on Wednesday, January 28th. Leerink Partners raised Relmada Therapeutics from a "market perform" rating to an "outperform" rating and set a $8.00 price objective for the company in a research report on Friday, January 23rd. Piper Sandler started coverage on Relmada Therapeutics in a research report on Tuesday, March 24th. They set an "overweight" rating and a $12.00 price objective for the company. Finally, Jefferies Financial Group started coverage on Relmada Therapeutics in a research report on Monday, December 22nd. They set a "buy" rating and a $9.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Relmada Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $12.00.

Relmada Therapeutics Stock Up 7.2%

The firm has a market capitalization of $788.25 million, a PE ratio of -5.18 and a beta of 0.44. The firm's fifty day simple moving average is $5.22 and its 200-day simple moving average is $4.04.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last issued its 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). As a group, analysts predict that Relmada Therapeutics, Inc. will post -2.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RLMD. Corient Private Wealth LLC grew its holdings in shares of Relmada Therapeutics by 248.2% in the fourth quarter. Corient Private Wealth LLC now owns 719,582 shares of the company's stock worth $3,443,000 after acquiring an additional 512,915 shares during the period. Seven Fleet Capital Management LP bought a new stake in shares of Relmada Therapeutics in the fourth quarter worth $744,000. Virtu Financial LLC bought a new stake in shares of Relmada Therapeutics during the 4th quarter valued at about $85,000. XTX Topco Ltd bought a new stake in shares of Relmada Therapeutics during the 4th quarter valued at about $199,000. Finally, Ikarian Capital LLC grew its stake in shares of Relmada Therapeutics by 66.5% during the 4th quarter. Ikarian Capital LLC now owns 3,068,359 shares of the company's stock valued at $14,820,000 after purchasing an additional 1,225,299 shares during the period. 45.24% of the stock is owned by hedge funds and other institutional investors.

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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