Relmada Therapeutics (NASDAQ:RLMD) Reaches New 1-Year High - Time to Buy?

Key Points

• Relmada Therapeutics' stock hit a new 52-week high, trading as high as $8.00 (last $7.8930) with elevated volume; the 50‑day and 200‑day moving averages are $6.37 and $4.69, and institutions now own about 45% after large Q4 purchases.
• Analyst coverage is mixed but skewed positive: one Strong Buy, four Buy, one Hold and one Sell, yielding a MarketBeat consensus of “Moderate Buy” with an average target of $12 and top targets as high as $19 (Mizuho).
• Financially the company remains loss-making—reporting an EPS miss (−$0.27 vs. −$0.14) and a negative P/E—while advancing its lead CNS candidate REL-1017 (d‑methadone) as a potential rapid-acting treatment for major depressive disorder.

Relmada Therapeutics, Inc. (NASDAQ:RLMD - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $8.00 and last traded at $7.8930, with a volume of 318257 shares changing hands. The stock had previously closed at $7.35.

Wall Street Analyst Weigh In

RLMD has been the subject of a number of analyst reports. Weiss Ratings reissued a "sell (e+)" rating on shares of Relmada Therapeutics in a report on Wednesday, January 28th. Lucid Cap Mkts raised Relmada Therapeutics to a "strong-buy" rating in a report on Monday, March 2nd. Zacks Research raised Relmada Therapeutics to a "hold" rating in a report on Tuesday, January 27th. Piper Sandler initiated coverage on Relmada Therapeutics in a report on Tuesday, March 24th. They issued an "overweight" rating and a $12.00 price target for the company. Finally, Mizuho boosted their price target on Relmada Therapeutics from $10.00 to $19.00 and gave the company an "outperform" rating in a report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $12.00.

Relmada Therapeutics Stock Performance

The firm has a market capitalization of $824.44 million, a price-to-earnings ratio of -5.42 and a beta of 0.43. The company has a 50 day moving average price of $6.37 and a two-hundred day moving average price of $4.69.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RLMD. Janus Henderson Group PLC acquired a new position in shares of Relmada Therapeutics during the 4th quarter worth approximately $35,041,000. Squadron Capital Management LLC purchased a new position in Relmada Therapeutics in the 4th quarter valued at $32,361,000. Adage Capital Partners GP L.L.C. purchased a new position in Relmada Therapeutics in the 4th quarter valued at $20,624,000. Spruce Street Capital LP purchased a new position in Relmada Therapeutics in the 4th quarter valued at $19,736,000. Finally, Marshall Wace LLP lifted its holdings in Relmada Therapeutics by 1,072.4% in the 4th quarter. Marshall Wace LLP now owns 3,189,662 shares of the company's stock valued at $15,406,000 after purchasing an additional 2,917,609 shares in the last quarter. 45.24% of the stock is owned by institutional investors and hedge funds.

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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