Brokerages Set Relmada Therapeutics Inc (OTCMKTS:RLMD) PT at $70.40

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Relmada Therapeutics Inc (OTCMKTS:RLMD) has received an average recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $70.40.

A number of brokerages recently weighed in on RLMD. Oppenheimer began coverage on shares of Relmada Therapeutics in a report on Monday, July 13th. They set an “outperform” rating and a $75.00 target price for the company. Zacks Investment Research upgraded shares of Relmada Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, July 22nd.

In other news, Director Charles J. Casamento sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $34.74, for a total transaction of $104,220.00. Following the transaction, the director now owns 55,173 shares in the company, valued at approximately $1,916,710.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 9,000 shares of company stock worth $343,110 in the last 90 days. 5.20% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can acquired a new position in Relmada Therapeutics in the 2nd quarter valued at $37,000. Ameritas Investment Partners Inc. acquired a new position in Relmada Therapeutics in the 2nd quarter valued at $56,000. Citigroup Inc. grew its stake in Relmada Therapeutics by 81.6% in the 1st quarter. Citigroup Inc. now owns 1,700 shares of the company’s stock valued at $58,000 after buying an additional 764 shares during the last quarter. Tortoise Investment Management LLC grew its stake in Relmada Therapeutics by 32.2% in the 1st quarter. Tortoise Investment Management LLC now owns 3,835 shares of the company’s stock valued at $131,000 after buying an additional 935 shares during the last quarter. Finally, Knott David M acquired a new position in Relmada Therapeutics in the 2nd quarter valued at $134,000.

RLMD traded up $0.08 on Tuesday, hitting $36.70. 78,645 shares of the company’s stock were exchanged, compared to its average volume of 148,813. The stock has a fifty day moving average of $38.11 and a two-hundred day moving average of $40.70. Relmada Therapeutics has a twelve month low of $9.60 and a twelve month high of $54.00.

About Relmada Therapeutics

Relmada Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing drugs to treat central nervous system (CNS) diseases and other disorders in the United States. Its lead product candidate, d-Methadone, is being developed as a rapidly acting, oral agent for the treatment of depression, neuropathic pain, and/or other potential CNS pathological conditions.

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Analyst Recommendations for Relmada Therapeutics (OTCMKTS:RLMD)

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