Relmada Therapeutics (NASDAQ:RLMD) Sets New 1-Year High – Still a Buy?

Relmada Therapeutics, Inc. (NASDAQ:RLMD) shares reached a new 52-week high during trading on Monday . The company traded as high as $7.05 and last traded at $6.9830, with a volume of 38414993 shares. The stock had previously closed at $4.45.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Leerink Partners raised Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 target price for the company in a research report on Friday, January 23rd. Zacks Research upgraded Relmada Therapeutics to a “hold” rating in a research note on Tuesday, January 27th. Lucid Cap Mkts raised Relmada Therapeutics to a “strong-buy” rating in a report on Monday, March 2nd. Jefferies Financial Group initiated coverage on shares of Relmada Therapeutics in a report on Monday, December 22nd. They issued a “buy” rating and a $9.00 target price on the stock. Finally, Mizuho upgraded shares of Relmada Therapeutics from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $1.00 to $10.00 in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Relmada Therapeutics Stock Performance

The stock has a market capitalization of $534.38 million, a PE ratio of -4.07 and a beta of 0.72. The company’s fifty day simple moving average is $4.13 and its two-hundred day simple moving average is $3.21.

Insider Buying and Selling at Relmada Therapeutics

In related news, CFO Maged Shenouda bought 11,665 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were acquired at an average cost of $4.12 per share, with a total value of $48,059.80. Following the completion of the transaction, the chief financial officer owned 800,000 shares of the company’s stock, valued at approximately $3,296,000. The trade was a 1.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 20.70% of the stock is currently owned by insiders.

Institutional Trading of Relmada Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in RLMD. XTX Topco Ltd purchased a new stake in Relmada Therapeutics during the second quarter valued at about $28,000. Goldman Sachs Group Inc. acquired a new position in shares of Relmada Therapeutics during the 1st quarter valued at $33,000. LMR Partners LLP acquired a new stake in Relmada Therapeutics in the 2nd quarter valued at $33,000. Schonfeld Strategic Advisors LLC purchased a new position in Relmada Therapeutics in the fourth quarter valued at about $64,000. Finally, Jane Street Group LLC acquired a new position in shares of Relmada Therapeutics during the second quarter worth about $69,000. 45.24% of the stock is currently owned by institutional investors and hedge funds.

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.