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

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) hit a new 52-week high on Wednesday . The company traded as high as $8.00 and last traded at $7.8930, with a volume of 318257 shares trading hands. The stock had previously closed at $7.35.

Analysts Set New Price Targets

A number of research analysts have weighed in on RLMD shares. Lucid Cap Mkts upgraded Relmada Therapeutics to a “strong-buy” rating in a report on Monday, March 2nd. Piper Sandler started coverage on Relmada Therapeutics in a report on Tuesday, March 24th. They issued an “overweight” rating and a $12.00 price objective on the stock. Zacks Research upgraded Relmada Therapeutics to a “hold” rating in a report on Tuesday, January 27th. Mizuho raised their price objective on Relmada Therapeutics from $10.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 20th. Finally, Leerink Partners upgraded Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 price objective on the stock in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Relmada Therapeutics Trading Up 6.9%

The company has a fifty day simple moving average of $6.37 and a 200-day simple moving average of $4.69. The company has a market capitalization of $824.44 million, a PE ratio of -5.42 and a beta of 0.43.

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

Institutional Trading of Relmada Therapeutics

Institutional investors have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Relmada Therapeutics during the 4th quarter valued at approximately $64,000. Virtu Financial LLC purchased a new stake in shares of Relmada Therapeutics during the 4th quarter valued at approximately $85,000. Jefferies Financial Group Inc. purchased a new position in shares of Relmada Therapeutics during the 4th quarter worth $105,000. Graham Capital Management L.P. purchased a new position in shares of Relmada Therapeutics during the 4th quarter worth $124,000. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Relmada Therapeutics during the 4th quarter worth $127,000. Hedge funds and other institutional investors 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.