Q3 Earnings Forecast for RLMD Issued By Leerink Partnrs

Relmada Therapeutics, Inc. (NASDAQ:RLMD - Free Report) - Analysts at Leerink Partnrs cut their Q3 2024 earnings per share estimates for shares of Relmada Therapeutics in a research note issued on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now anticipates that the company will post earnings of ($0.66) per share for the quarter, down from their prior estimate of ($0.47). The consensus estimate for Relmada Therapeutics' current full-year earnings is ($2.39) per share. Leerink Partnrs also issued estimates for Relmada Therapeutics' FY2024 earnings at ($2.45) EPS, FY2027 earnings at ($3.06) EPS and FY2028 earnings at ($0.68) EPS.

Separately, Jefferies Financial Group raised shares of Relmada Therapeutics from a "hold" rating to a "buy" rating and boosted their target price for the stock from $3.50 to $13.00 in a research note on Tuesday, September 17th.

Relmada Therapeutics Stock Performance

Shares of Relmada Therapeutics stock traded up $0.12 during midday trading on Friday, hitting $3.61. 170,204 shares of the company traded hands, compared to its average volume of 186,046. The stock has a market cap of $108.93 million, a price-to-earnings ratio of -1.12 and a beta of 0.51. The firm's fifty day moving average price is $3.03 and its 200-day moving average price is $3.41. Relmada Therapeutics has a 12 month low of $1.88 and a 12 month high of $7.22.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.24. During the same period last year, the company posted ($0.84) EPS.

Insider Activity

In other news, Director Charles J. Casamento purchased 13,000 shares of Relmada Therapeutics stock in a transaction dated Monday, September 9th. The shares were bought at an average cost of $2.56 per share, for a total transaction of $33,280.00. Following the completion of the acquisition, the director now owns 13,000 shares in the company, valued at approximately $33,280. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Relmada Therapeutics news, Director Charles J. Casamento purchased 13,000 shares of the business's stock in a transaction dated Monday, September 9th. The shares were bought at an average price of $2.56 per share, for a total transaction of $33,280.00. Following the completion of the acquisition, the director now owns 13,000 shares in the company, valued at approximately $33,280. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Maged Shenouda acquired 24,120 shares of Relmada Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The stock was acquired at an average cost of $2.95 per share, for a total transaction of $71,154.00. Following the purchase, the chief financial officer now owns 88,335 shares of the company's stock, valued at $260,588.25. The trade was a 0.00 % increase in their ownership of the stock. 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. 18.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Relmada Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in Relmada Therapeutics by 153.6% during the second quarter. Renaissance Technologies LLC now owns 88,775 shares of the company's stock worth $266,000 after buying an additional 53,767 shares during the last quarter. AdvisorShares Investments LLC raised its position in shares of Relmada Therapeutics by 28.5% in the 2nd quarter. AdvisorShares Investments LLC now owns 90,028 shares of the company's stock worth $276,000 after acquiring an additional 19,975 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Relmada Therapeutics in the 1st quarter worth about $70,000. Acadian Asset Management LLC lifted its stake in shares of Relmada Therapeutics by 1.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,193,333 shares of the company's stock valued at $3,577,000 after purchasing an additional 12,147 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Relmada Therapeutics during the 1st quarter valued at about $53,000. 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.