Relmada Therapeutics (NASDAQ:RLMD) Announces Earnings Results

Relmada Therapeutics (NASDAQ:RLMD) announced its quarterly earnings data on Tuesday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04), FiscalAI reports.

Relmada Therapeutics Stock Performance

NASDAQ RLMD traded up $0.09 during trading hours on Tuesday, hitting $7.45. The company had a trading volume of 1,441,579 shares, compared to its average volume of 1,433,515. Relmada Therapeutics has a 52 week low of $0.36 and a 52 week high of $8.00. The firm has a 50 day simple moving average of $6.62 and a 200 day simple moving average of $4.84. The firm has a market capitalization of $781.43 million, a price-to-earnings ratio of -5.14 and a beta of 0.43.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in Relmada Therapeutics in the 2nd quarter worth about $28,000. Goldman Sachs Group Inc. bought a new position in Relmada Therapeutics in the 1st quarter worth about $33,000. LMR Partners LLP bought a new position in Relmada Therapeutics in the 2nd quarter worth about $33,000. Schonfeld Strategic Advisors LLC bought a new position in Relmada Therapeutics in the 4th quarter worth about $64,000. Finally, Jane Street Group LLC bought a new position in Relmada Therapeutics in the 2nd quarter worth about $69,000. 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.