Relmada Therapeutics (NASDAQ:RLMD) Announces Earnings Results

Relmada Therapeutics (NASDAQ:RLMD) posted its quarterly earnings data on Thursday. The company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.08, Zacks reports.

Relmada Therapeutics Stock Performance

Relmada Therapeutics stock opened at $0.30 on Friday. The company has a 50 day moving average price of $0.31 and a 200 day moving average price of $1.60. Relmada Therapeutics has a 52 week low of $0.24 and a 52 week high of $5.09. The firm has a market capitalization of $8.95 million, a price-to-earnings ratio of -0.10 and a beta of 0.65.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RLMD shares. Leerink Partners restated a “market perform” rating and set a $1.00 target price (down from $10.00) on shares of Relmada Therapeutics in a report on Wednesday, December 4th. Leerink Partnrs downgraded Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Finally, Mizuho restated a “neutral” rating and issued a $1.00 target price (down from $23.00) on shares of Relmada Therapeutics in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.25.

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.