Leerink Partnrs Has Pessimistic View of RLMD FY2024 Earnings

Relmada Therapeutics, Inc. (NASDAQ:RLMD) – Equities researchers at Leerink Partnrs decreased their FY2024 earnings estimates for shares of Relmada Therapeutics in a research report issued to clients and investors on Wednesday, December 4th. Leerink Partnrs analyst M. Goodman now anticipates that the company will earn ($2.78) per share for the year, down from their previous forecast of ($2.60). Leerink Partnrs has a “Hold” rating on the stock. The consensus estimate for Relmada Therapeutics’ current full-year earnings is ($2.73) per share. Leerink Partnrs also issued estimates for Relmada Therapeutics’ Q4 2024 earnings at ($0.75) EPS, Q1 2025 earnings at ($0.10) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.04) EPS, Q4 2025 earnings at ($0.03) EPS, FY2025 earnings at ($0.15) EPS, FY2026 earnings at ($0.05) EPS and FY2027 earnings at ($0.15) EPS.

Several other equities analysts have also recently commented on RLMD. Mizuho reaffirmed a “neutral” rating and issued a $1.00 price target (down previously from $23.00) on shares of Relmada Therapeutics in a report on Thursday, December 5th. Leerink Partners restated a “market perform” rating and issued a $1.00 target price (down from $10.00) on shares of Relmada Therapeutics in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group raised Relmada Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the stock from $3.50 to $13.00 in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.25.

Relmada Therapeutics Stock Performance

Shares of RLMD opened at $0.48 on Monday. The company has a 50-day simple moving average of $3.12 and a 200-day simple moving average of $3.15. Relmada Therapeutics has a 52 week low of $0.43 and a 52 week high of $7.22. The firm has a market capitalization of $14.51 million, a P/E ratio of -0.17 and a beta of 0.35.

Insider Buying and Selling at Relmada Therapeutics

In other news, 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, with a total value of $71,154.00. Following the completion of the purchase, the chief financial officer now owns 88,335 shares of the company’s stock, valued at $260,588.25. This represents a 37.56 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sergio Traversa acquired 51,407 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average cost of $2.99 per share, with a total value of $153,706.93. Following the acquisition, the chief executive officer now 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 disclosure for this purchase can be found here. Company insiders own 18.00% of the company’s stock.

Institutional Investors Weigh In On Relmada Therapeutics

A number of large investors have recently bought and sold shares of RLMD. Franklin Resources Inc. boosted its stake in Relmada Therapeutics by 28.6% in the third 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. Geode Capital Management LLC grew its holdings in Relmada Therapeutics by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 304,502 shares of the company’s stock worth $987,000 after acquiring an additional 44,004 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Relmada Therapeutics by 99.9% in the 3rd 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. HighTower Advisors LLC bought a new position in shares of Relmada Therapeutics in the third quarter worth about $32,000. Finally, FMR LLC grew its stake in shares of Relmada Therapeutics by 29.0% during the third quarter. FMR LLC now owns 116,544 shares of the company’s stock valued at $378,000 after purchasing an additional 26,185 shares during the last quarter. 45.24% of the stock is currently owned by institutional investors.

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.