Analysts Set Relmada Therapeutics, Inc. (NASDAQ:RLMD) PT at $12.00

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $12.00.

A number of brokerages have recently issued reports on RLMD. Weiss Ratings restated a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Thursday, June 18th. HC Wainwright assumed coverage on shares of Relmada Therapeutics in a research note on Thursday, June 18th. They set a “buy” rating and a $12.00 target price for the company.

Relmada Therapeutics Stock Performance

Shares of RLMD opened at $4.63 on Monday. The stock has a 50 day moving average price of $5.72 and a 200 day moving average price of $6.01. Relmada Therapeutics has a one year low of $0.60 and a one year high of $8.00. The stock has a market capitalization of $493.88 million, a price-to-earnings ratio of -5.14 and a beta of 0.46.

Relmada Therapeutics (NASDAQ:RLMD) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09. On average, analysts predict that Relmada Therapeutics will post -0.6 earnings per share for the current year.

Hedge Funds Weigh In On Relmada Therapeutics

Large investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new position in shares of Relmada Therapeutics during the 2nd quarter worth $28,000. LMR Partners LLP acquired a new stake in shares of Relmada Therapeutics in the second quarter valued at approximately $33,000. Goldman Sachs Group Inc. purchased a new position in shares of Relmada Therapeutics during the 1st quarter worth approximately $33,000. Legal & General Group Plc acquired a new position in shares of Relmada Therapeutics during the 2nd quarter worth approximately $64,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Relmada Therapeutics during the fourth quarter valued at $64,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

Relmada Therapeutics Company Profile

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.