Mizuho Reiterates “Neutral” Rating for Relmada Therapeutics (NASDAQ:RLMD)

Relmada Therapeutics (NASDAQ:RLMD)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Mizuho in a note issued to investors on Thursday, Marketbeat reports. They currently have a $1.00 price objective on the stock, down from their previous price objective of $23.00. Mizuho’s target price suggests a potential upside of 118.58% from the company’s current price.

Separately, Jefferies Financial Group raised Relmada Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $3.50 to $13.00 in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.25.

Relmada Therapeutics Trading Up 1.7 %

Shares of RLMD opened at $0.46 on Thursday. The company has a market capitalization of $13.80 million, a PE ratio of -0.16 and a beta of 0.35. Relmada Therapeutics has a 12 month low of $0.43 and a 12 month high of $7.22. The stock’s 50-day moving average price is $3.17 and its two-hundred day moving average price is $3.17.

Insider Activity

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

Institutional Trading of Relmada Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLMD. Franklin Resources Inc. increased its holdings in Relmada Therapeutics by 28.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,302,151 shares of the company’s stock worth $4,362,000 after purchasing an additional 289,490 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Relmada Therapeutics by 99.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 157,672 shares of the company’s stock valued at $511,000 after acquiring an additional 78,779 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of 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 acquiring an additional 53,767 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Relmada Therapeutics by 16.9% in the third quarter. Geode Capital Management LLC now owns 304,502 shares of the company’s stock valued at $987,000 after acquiring an additional 44,004 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Relmada Therapeutics by 29.0% in the third quarter. FMR LLC now owns 116,544 shares of the company’s stock valued at $378,000 after acquiring an additional 26,185 shares in 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.