Relmada Therapeutics (NASDAQ:RLMD) Stock Rating Upgraded by Jefferies Financial Group

Relmada Therapeutics (NASDAQ:RLMD) was upgraded by Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a $13.00 target price on the stock, up from their prior target price of $3.50. Jefferies Financial Group’s target price would suggest a potential upside of 272.49% from the company’s previous close.

Separately, The Goldman Sachs Group lowered Relmada Therapeutics from a “neutral” rating to a “sell” rating and lowered their price target for the company from $3.00 to $2.00 in a research report on Wednesday, June 5th.

Relmada Therapeutics Trading Up 1.5 %

Shares of RLMD stock opened at $3.49 on Tuesday. Relmada Therapeutics has a 12 month low of $1.88 and a 12 month high of $7.22. The firm has a market capitalization of $105.31 million, a PE ratio of -1.12 and a beta of 0.50. The firm has a fifty day simple moving average of $3.18 and a two-hundred day simple moving average of $3.69.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.24. During the same period in the prior year, the business earned ($0.84) EPS. On average, equities analysts predict that Relmada Therapeutics will post -2.39 earnings per share for the current fiscal year.

Insider Transactions at Relmada Therapeutics

In related news, CEO Sergio Traversa purchased 51,407 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was purchased at an average cost of $2.99 per share, with a total value of $153,706.93. Following the completion of the acquisition, the chief executive officer now directly owns 384,024 shares of the company’s stock, valued at $1,148,231.76. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Charles J. Casamento acquired 13,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was bought at an average cost of $2.56 per share, with a total value of $33,280.00. Following the acquisition, the director now owns 13,000 shares of the company’s stock, valued at approximately $33,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sergio Traversa bought 51,407 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was bought at an average price of $2.99 per share, with a total value of $153,706.93. Following the completion of the transaction, the chief executive officer now directly owns 384,024 shares of the company’s stock, valued at approximately $1,148,231.76. The disclosure for this purchase can be found here. Insiders acquired 152,300 shares of company stock worth $429,655 over the last quarter. Corporate insiders own 18.00% of the company’s stock.

Hedge Funds Weigh In On Relmada Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in RLMD. SG Americas Securities LLC purchased a new stake in Relmada Therapeutics during the 1st quarter valued at about $53,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Relmada Therapeutics during the first quarter valued at approximately $70,000. American Century Companies Inc. grew its holdings in shares of Relmada Therapeutics by 14.6% in the second quarter. American Century Companies Inc. now owns 31,618 shares of the company’s stock worth $95,000 after purchasing an additional 4,027 shares during the last quarter. ADAR1 Capital Management LLC purchased a new position in shares of Relmada Therapeutics in the fourth quarter worth $243,000. Finally, Renaissance Technologies LLC increased its stake in shares of Relmada Therapeutics by 153.6% in the second quarter. Renaissance Technologies LLC now owns 88,775 shares of the company’s stock worth $266,000 after buying an additional 53,767 shares during the period. Institutional investors own 45.24% 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 diseases (CNS) and other disorders in the United States. Its lead product candidate is Esmethadone (d-methadone, dextromethadone, and REL-1017), a N-methyl-D-aspartate receptor antagonist which is in phase 3 clinical trial for the adjunctive or monotherapy treatment of major depressive disorder.