Relmada Therapeutics (NASDAQ:RLMD) Upgraded at Wall Street Zen

Key Points

• Relmada Therapeutics has been upgraded to a "hold" rating by Wall Street Zen, following previously published ratings that included a "sell (d-)" from Weiss Ratings.
• The company's stock has recently fallen by 7.3%, and it reported earnings of ($0.30) per share, missing the average estimate of ($0.25).
• Institutional investors now hold 45.24% of Relmada Therapeutics' stock, with several firms increasing their stake during the second quarter.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) was upgraded by stock analysts at Wall Street Zen to a "hold" rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Relmada Therapeutics in a research report on Wednesday. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $1.00.

Relmada Therapeutics Stock Down 7.3%

Shares of Relmada Therapeutics stock opened at $2.04 on Friday. The stock's fifty day moving average is $1.31 and its two-hundred day moving average is $0.80. The company has a market capitalization of $67.71 million, a PE ratio of -0.92 and a beta of 0.91. Relmada Therapeutics has a 52 week low of $0.24 and a 52 week high of $3.98.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). As a group, research analysts anticipate that Relmada Therapeutics will post -2.73 earnings per share for the current year.

Institutional Investors Weigh In On Relmada Therapeutics

A number of institutional investors have recently added to or reduced their stakes in RLMD. XTX Topco Ltd bought a new stake in Relmada Therapeutics during the second quarter valued at about $28,000. Goldman Sachs Group Inc. bought a new stake in Relmada Therapeutics during the first quarter valued at about $33,000. LMR Partners LLP bought a new stake in Relmada Therapeutics during the second quarter valued at about $33,000. Jane Street Group LLC purchased a new stake in Relmada Therapeutics in the second quarter valued at about $69,000. Finally, Marshall Wace LLP purchased a new stake in Relmada Therapeutics in the second quarter valued at about $93,000. Institutional investors own 45.24% of the company's stock.

About Relmada Therapeutics

Relmada Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing various products for the treatment of central nervous system diseases (CNS) and other disorders in the United States. Its lead product candidate is Esmethadone (d-methadone, dextromethadone, and REL-1017), a N-methyl-D-aspartate receptor antagonist which is in phase 3 clinical trial for the adjunctive or monotherapy treatment of major depressive disorder.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.