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

by · The Markets Daily

Jefferies Financial Group upgraded shares of Relmada Therapeutics (NASDAQ:RLMD – Free Report) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. Jefferies Financial Group currently has $13.00 price target on the stock, up from their previous price target of $3.50.

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

Get Our Latest Stock Analysis on Relmada Therapeutics

Relmada Therapeutics Stock Up 0.3 %

NASDAQ RLMD opened at $3.51 on Tuesday. The stock has a market capitalization of $105.90 million, a P/E ratio of -1.12 and a beta of 0.50. Relmada Therapeutics has a 52-week low of $1.88 and a 52-week high of $7.22. The firm has a 50-day moving average price of $3.16 and a 200 day moving average price of $3.67.

Relmada Therapeutics (NASDAQ:RLMD – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.24. During the same period last year, the firm posted ($0.84) EPS. On average, equities research analysts expect that Relmada Therapeutics will post -2.39 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sergio Traversa purchased 51,407 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired 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 directly owns 384,024 shares in the company, valued at approximately $1,148,231.76. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Sergio Traversa acquired 51,407 shares of Relmada Therapeutics stock in a transaction that occurred on 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 owns 384,024 shares in the company, valued at approximately $1,148,231.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Maged Shenouda bought 24,120 shares of the stock in a transaction on Wednesday, September 11th. The stock was purchased at an average cost of $2.95 per share, for a total transaction of $71,154.00. Following the acquisition, the chief financial officer now directly owns 88,335 shares of the company’s stock, valued at approximately $260,588.25. The disclosure for this purchase can be found here. In the last three months, insiders purchased 152,300 shares of company stock worth $429,655. Company 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. Vestal Point Capital LP acquired a new stake in shares of Relmada Therapeutics in the fourth quarter valued at approximately $476,000. ADAR1 Capital Management LLC acquired a new stake in Relmada Therapeutics during the 4th quarter valued at $243,000. Opaleye Management Inc. grew its holdings in Relmada Therapeutics by 2,823.3% during the 4th quarter. Opaleye Management Inc. now owns 877,000 shares of the company’s stock valued at $3,631,000 after buying an additional 847,000 shares during the last quarter. SG Americas Securities LLC purchased a new position in Relmada Therapeutics during the first quarter worth $53,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Relmada Therapeutics in the first quarter worth $70,000. 45.24% of the stock is currently owned by hedge funds and other institutional investors.

About Relmada Therapeutics

(Get Free Report)

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.

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