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

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) have been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $12.00.

Several research analysts have commented on RLMD shares. HC Wainwright initiated coverage on Relmada Therapeutics in a research note on Thursday, June 18th. They set a “buy” rating and a $12.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Monday, September 14th.

Relmada Therapeutics Stock Performance

NASDAQ RLMD opened at $3.51 on Tuesday. The firm has a 50-day moving average of $4.28 and a 200-day moving average of $5.80. The stock has a market cap of $374.41 million, a PE ratio of -3.90 and a beta of 0.51. Relmada Therapeutics has a 52-week low of $1.80 and a 52-week high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.09. As a group, analysts predict that Relmada Therapeutics will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Relmada Therapeutics news, CFO Maged Shenouda acquired 120,200 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was acquired at an average price of $4.20 per share, for a total transaction of $504,840.00. Following the acquisition, the chief financial officer directly owned 920,200 shares in the company, valued at $3,864,840. This represents a 15.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 14.50% of the company’s stock.

Institutional Trading of Relmada Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RLMD. Legal & General Group Plc purchased a new position in shares of Relmada Therapeutics during the 2nd quarter valued at $64,000. AXQ Capital LP bought a new position in shares of Relmada Therapeutics during the 2nd quarter worth $84,000. State of Wyoming purchased a new stake in Relmada Therapeutics in the 1st quarter worth about $88,000. Keebeck Wealth Management purchased a new stake in Relmada Therapeutics in the 1st quarter worth about $90,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Relmada Therapeutics during the second quarter valued at about $173,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

Relmada Therapeutics Company Profile

Relmada Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for central nervous system disorders, particularly major depressive disorder and other conditions associated with significant unmet medical needs. The company is headquartered in the United States and conducts its research and clinical development activities through collaborations and trials involving patients and research sites in multiple regions.

Relmada’s lead product candidate is REL-1017, also known as esmethadone or dextromethadone.