Relmada Therapeutics (NASDAQ:RLMD) Raised to “Hold” at Zacks Research

Relmada Therapeutics (NASDAQ:RLMD) was upgraded by research analysts at Zacks Research to a “hold” rating in a report released on Tuesday,Zacks.com reports.

RLMD has been the topic of a number of other reports. Jefferies Financial Group began coverage on Relmada Therapeutics in a research note on Monday, December 22nd. They set a “buy” rating and a $9.00 price objective on the stock. Mizuho raised shares of Relmada Therapeutics from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $1.00 to $10.00 in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Relmada Therapeutics in a research note on Friday, October 31st. Wall Street Zen upgraded shares of Relmada Therapeutics to a “hold” rating in a research report on Saturday, October 11th. 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 research report on Friday, January 23rd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.00.

Relmada Therapeutics Stock Up 0.3%

Relmada Therapeutics stock traded up $0.01 during midday trading on Tuesday, reaching $3.96. The stock had a trading volume of 116,391 shares, compared to its average volume of 536,113. The firm has a market capitalization of $290.53 million, a PE ratio of -2.20 and a beta of 0.77. Relmada Therapeutics has a 12 month low of $0.24 and a 12 month high of $5.12. The firm’s 50-day moving average price is $4.22 and its 200 day moving average price is $2.53.

Relmada Therapeutics (NASDAQ:RLMD) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.26). Equities research analysts expect that Relmada Therapeutics will post -2.73 EPS for the current year.

Insider Transactions at Relmada Therapeutics

In other Relmada Therapeutics news, COO Chuck Ence purchased 136,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average price of $2.20 per share, with a total value of $299,200.00. Following the completion of the purchase, the chief operating officer directly owned 403,931 shares in the company, valued at $888,648.20. This trade represents a 50.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Paul Edward Kelly acquired 90,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average price of $2.20 per share, with a total value of $198,000.00. Following the completion of the purchase, the chief operating officer directly owned 502,295 shares in the company, valued at $1,105,049. The trade was a 21.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 737,665 shares of company stock valued at $1,645,260 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Relmada Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new stake in shares of Relmada Therapeutics in the second quarter valued at approximately $28,000. Goldman Sachs Group Inc. purchased a new position in shares of Relmada Therapeutics in the 1st quarter valued at about $33,000. LMR Partners LLP purchased a new stake in Relmada Therapeutics during the second quarter worth about $33,000. Jane Street Group LLC acquired a new position in Relmada Therapeutics during the second quarter worth about $69,000. Finally, Marshall Wace LLP acquired a new stake in shares of Relmada Therapeutics during the 2nd quarter valued at approximately $93,000. 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.