Relmada Therapeutics, Inc. (NASDAQ:RLMD) Stock Has Average Price Target of $12.00 According to Analysts

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $12.00.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relmada Therapeutics in a research note on Monday, September 14th.

Relmada Therapeutics Price Performance

Shares of NASDAQ:RLMD opened at $3.90 on Friday. The company has a market capitalization of $416.01 million, a PE ratio of -4.33 and a beta of 0.62. The business has a fifty day moving average price of $3.78 and a 200-day moving average price of $5.32. Relmada Therapeutics has a 1-year low of $2.42 and a 1-year high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.09. On average, sell-side analysts anticipate that Relmada Therapeutics will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Maged Shenouda bought 120,200 shares of Relmada Therapeutics stock in a transaction that occurred on Wednesday, September 9th. The stock was bought at an average price of $4.20 per share, for a total transaction of $504,840.00. Following the purchase, the chief financial officer directly owned 920,200 shares of the company’s stock, valued at approximately $3,864,840. The trade was a 15.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 14.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Relmada Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new stake in shares of Relmada Therapeutics in the second quarter valued at approximately $64,000. AXQ Capital LP acquired a new position in shares of Relmada Therapeutics during the second quarter valued at about $84,000. State of Wyoming purchased a new stake in shares of Relmada Therapeutics in the first quarter valued at approximately $88,000. Keebeck Wealth Management acquired a new stake in shares of Relmada Therapeutics in the 1st quarter valued at $90,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Relmada Therapeutics in the second quarter valued at about $173,000. Institutional investors own 45.24% of the company’s stock.

Relmada Therapeutics Company Profile

Relmada Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for central nervous system disorders. The company’s research has primarily targeted conditions with significant unmet medical needs, including major depressive disorder and other neuropsychiatric diseases.

Relmada’s lead investigational product is REL-1017, also known as esmethadone or dextromethadone. The orally administered compound is designed to modulate the N-methyl-D-aspartate (NMDA) receptor and has been studied as a potential adjunctive treatment for major depressive disorder in patients who do not respond adequately to standard antidepressants.