Relmada Therapeutics, Inc. (NASDAQ:RLMD – Get Free Report) has earned an average rating of “Hold” from the six analysts that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $19.00.
Separately, Mizuho reduced their price target on shares of Relmada Therapeutics from $26.00 to $25.00 in a research report on Thursday.
Read Our Latest Stock Analysis on RLMD
Relmada Therapeutics Stock Up 8.4 %
Relmada Therapeutics (NASDAQ:RLMD – Get Free Report) last announced its quarterly earnings results on Thursday, May 11th. The company reported ($0.87) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.01. On average, equities analysts forecast that Relmada Therapeutics will post -3.71 EPS for the current fiscal year.
Insider Activity
In other news, insider Cedric O’gorman acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were bought at an average price of $3.18 per share, for a total transaction of $31,800.00. Following the completion of the purchase, the insider now directly owns 10,121 shares of the company’s stock, valued at approximately $32,184.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 13.50% of the company’s stock.
Institutional Trading of Relmada Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. RTW Investments LP increased its stake in shares of Relmada Therapeutics by 3.1% in the first quarter. RTW Investments LP now owns 2,131,835 shares of the company’s stock worth $4,818,000 after buying an additional 64,011 shares during the last quarter. BlackRock Inc. boosted its holdings in Relmada Therapeutics by 41.0% in the first quarter. BlackRock Inc. now owns 1,952,808 shares of the company’s stock worth $52,707,000 after purchasing an additional 567,573 shares during the period. Vanguard Group Inc. boosted its holdings in Relmada Therapeutics by 1.5% in the third quarter. Vanguard Group Inc. now owns 1,443,960 shares of the company’s stock worth $53,456,000 after purchasing an additional 20,928 shares during the period. Acadian Asset Management LLC boosted its holdings in Relmada Therapeutics by 11.0% in the first quarter. Acadian Asset Management LLC now owns 1,221,399 shares of the company’s stock worth $2,755,000 after purchasing an additional 121,060 shares during the period. Finally, Millennium Management LLC boosted its holdings in Relmada Therapeutics by 5,364.1% in the fourth quarter. Millennium Management LLC now owns 1,061,774 shares of the company’s stock worth $3,706,000 after purchasing an additional 1,081,944 shares during the period. Institutional investors own 59.10% of the company’s stock.
Relmada Therapeutics Company Profile
Relmada Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing various products for the treatment of central nervous system (CNS) diseases and other disorders. Its lead product candidate is Esmethadone (d-methadone, dextromethadone, and REL-1017), a new chemical entity and N-methyl-D-aspartate receptor antagonist that is in Phase 3 clinical trials for the adjunctive or monotherapy treatment of major depressive disorder in adults.
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