Leerink Partnrs Issues Negative Estimate for RLMD Earnings

Relmada Therapeutics, Inc. (NASDAQ:RLMD) – Stock analysts at Leerink Partnrs decreased their Q3 2024 earnings per share estimates for Relmada Therapeutics in a note issued to investors on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now expects that the company will earn ($0.66) per share for the quarter, down from their previous estimate of ($0.47). The consensus estimate for Relmada Therapeutics’ current full-year earnings is ($2.39) per share. Leerink Partnrs also issued estimates for Relmada Therapeutics’ FY2024 earnings at ($2.45) EPS, FY2027 earnings at ($3.06) EPS and FY2028 earnings at ($0.68) EPS.

Separately, Jefferies Financial Group raised Relmada Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the stock from $3.50 to $13.00 in a research report on Tuesday, September 17th.

Relmada Therapeutics Price Performance

Shares of RLMD opened at $3.61 on Friday. Relmada Therapeutics has a 1-year low of $1.88 and a 1-year high of $7.22. The stock has a market cap of $108.93 million, a price-to-earnings ratio of -1.15 and a beta of 0.51. The firm has a 50 day simple moving average of $3.06 and a 200-day simple moving average of $3.40.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.24. During the same quarter last year, the firm earned ($0.84) earnings per share.

Institutional Trading of Relmada Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in Relmada Therapeutics by 153.6% in the second quarter. Renaissance Technologies LLC now owns 88,775 shares of the company’s stock valued at $266,000 after buying an additional 53,767 shares during the period. American Century Companies Inc. raised its stake in shares of Relmada Therapeutics by 14.6% in the 2nd quarter. American Century Companies Inc. now owns 31,618 shares of the company’s stock valued at $95,000 after acquiring an additional 4,027 shares during the period. AdvisorShares Investments LLC lifted its holdings in shares of Relmada Therapeutics by 28.5% during the 2nd quarter. AdvisorShares Investments LLC now owns 90,028 shares of the company’s stock valued at $276,000 after acquiring an additional 19,975 shares in the last quarter. Acadian Asset Management LLC boosted its position in Relmada Therapeutics by 1.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,193,333 shares of the company’s stock worth $3,577,000 after purchasing an additional 12,147 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Relmada Therapeutics in the 1st quarter valued at $70,000. 45.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Relmada Therapeutics news, CEO Sergio Traversa purchased 51,407 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was bought at an average cost of $2.99 per share, for a total transaction of $153,706.93. Following the acquisition, the chief executive officer now owns 384,024 shares of the company’s stock, valued at approximately $1,148,231.76. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Charles J. Casamento purchased 13,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average price of $2.56 per share, with a total value of $33,280.00. Following the completion of the transaction, the director now owns 13,000 shares of the company’s stock, valued at approximately $33,280. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sergio Traversa purchased 51,407 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was bought at an average price of $2.99 per share, for a total transaction of $153,706.93. Following the acquisition, the chief executive officer now owns 384,024 shares in the company, valued at $1,148,231.76. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 152,300 shares of company stock valued at $429,655 in the last ninety days. Insiders own 18.00% 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.