Relmada Therapeutics (NASDAQ:RLMD) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Relmada Therapeutics (NASDAQ:RLMD) from a hold rating to a buy rating in a report issued on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has $13.00 target price on the stock, up from their prior target price of $3.50.

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

Relmada Therapeutics Stock Performance

Shares of RLMD opened at $3.50 on Tuesday. The company has a 50-day simple moving average of $3.18 and a 200-day simple moving average of $3.69. The firm has a market capitalization of $105.60 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.

Relmada Therapeutics (NASDAQ:RLMD) last announced 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 business posted ($0.84) EPS. As a group, equities analysts forecast that Relmada Therapeutics will post -2.39 earnings per share for the current year.

Insider Activity at Relmada Therapeutics

In other Relmada Therapeutics news, CFO Maged Shenouda bought 24,120 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average price of $2.95 per share, with a total value of $71,154.00. Following the completion of the purchase, the chief financial officer now directly owns 88,335 shares in the company, valued at approximately $260,588.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Charles J. Casamento acquired 13,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were purchased at an average cost of $2.56 per share, with a total value of $33,280.00. Following the completion of the purchase, the director now owns 13,000 shares of the company’s stock, valued at $33,280. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Maged Shenouda acquired 24,120 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were purchased at an average cost of $2.95 per share, for a total transaction of $71,154.00. Following the completion of the purchase, 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. Insiders have acquired a total of 152,300 shares of company stock valued at $429,655 over the last quarter. 18.00% of the stock is owned by company insiders.

Institutional Trading of Relmada Therapeutics

Several large investors have recently added to or reduced their stakes in RLMD. Opaleye Management Inc. grew its stake in Relmada Therapeutics by 2,823.3% during the fourth quarter. Opaleye Management Inc. now owns 877,000 shares of the company’s stock worth $3,631,000 after buying an additional 847,000 shares during the last quarter. Vestal Point Capital LP bought a new stake in Relmada Therapeutics during the fourth quarter worth about $476,000. ADAR1 Capital Management LLC bought a new stake in shares of Relmada Therapeutics during the fourth quarter valued at approximately $243,000. Renaissance Technologies LLC grew its stake in shares of Relmada Therapeutics by 153.6% during the second quarter. Renaissance Technologies LLC now owns 88,775 shares of the company’s stock valued at $266,000 after purchasing an additional 53,767 shares during the last quarter. Finally, AdvisorShares Investments LLC grew its stake in shares of Relmada Therapeutics by 28.5% during the second quarter. AdvisorShares Investments LLC now owns 90,028 shares of the company’s stock valued at $276,000 after purchasing an additional 19,975 shares during the last quarter. 45.24% of the stock is owned by institutional investors.

About Relmada Therapeutics

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.