Relmada Therapeutics’ (RLMD) Market Perform Rating Reiterated at Leerink Partners

Leerink Partners reiterated their market perform rating on shares of Relmada Therapeutics (NASDAQ:RLMD) in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a $1.00 price target on the stock, down from their previous price target of $10.00.

RLMD has been the subject of several other reports. Mizuho reissued a “neutral” rating and set a $1.00 price objective (down from $23.00) on shares of Relmada Therapeutics in a research note on Thursday. Jefferies Financial Group raised Relmada Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the company from $3.50 to $13.00 in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Relmada Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $4.25.

Relmada Therapeutics Stock Performance

Relmada Therapeutics stock opened at $0.46 on Wednesday. Relmada Therapeutics has a 1 year low of $0.43 and a 1 year high of $7.22. The firm has a 50 day moving average price of $3.17 and a 200 day moving average price of $3.17. The company has a market cap of $13.80 million, a price-to-earnings ratio of -0.16 and a beta of 0.35.

Insider Transactions at Relmada Therapeutics

In related news, CEO Sergio Traversa purchased 51,407 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was acquired at an average price of $2.99 per share, for a total transaction of $153,706.93. Following the completion of the purchase, the chief executive officer now owns 384,024 shares in the company, valued at approximately $1,148,231.76. This represents a 15.46 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Maged Shenouda bought 24,120 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was bought at an average cost of $2.95 per share, with a total value of $71,154.00. Following the transaction, the chief financial officer now directly owns 88,335 shares in the company, valued at approximately $260,588.25. The trade was a 37.56 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 152,300 shares of company stock valued at $429,655. Corporate insiders own 18.00% of the company’s stock.

Hedge Funds Weigh In On Relmada Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its stake in Relmada Therapeutics by 28.6% during the third quarter. Franklin Resources Inc. now owns 1,302,151 shares of the company’s stock worth $4,362,000 after acquiring an additional 289,490 shares during the period. Acadian Asset Management LLC raised its position in shares of 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. Geode Capital Management LLC lifted its holdings in shares of Relmada Therapeutics by 16.9% in the 3rd quarter. Geode Capital Management LLC now owns 304,502 shares of the company’s stock worth $987,000 after purchasing an additional 44,004 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Relmada Therapeutics by 99.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 157,672 shares of the company’s stock valued at $511,000 after purchasing an additional 78,779 shares during the period. Finally, FMR LLC grew its stake in Relmada Therapeutics by 29.0% during the 3rd quarter. FMR LLC now owns 116,544 shares of the company’s stock worth $378,000 after buying an additional 26,185 shares during the last quarter. Institutional investors and hedge funds 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.