Relmada Therapeutics (NASDAQ:RLMD) Posts Earnings Results, Beats Expectations By $0.08 EPS

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

Relmada Therapeutics Price Performance

Shares of RLMD opened at $0.30 on Friday. The stock has a fifty day moving average price of $0.31 and a 200 day moving average price of $1.61. Relmada Therapeutics has a 12 month low of $0.24 and a 12 month high of $5.09. The company has a market cap of $8.99 million, a P/E ratio of -0.10 and a beta of 0.65.

Wall Street Analyst Weigh In

RLMD has been the subject of a number of recent analyst reports. Leerink Partnrs cut shares of Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Mizuho reiterated a “neutral” rating and set a $1.00 price target (down previously from $23.00) on shares of Relmada Therapeutics in a report on Thursday, December 5th. Finally, Leerink Partners reiterated a “market perform” rating and issued a $1.00 price target (down from $10.00) on shares of Relmada Therapeutics in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $4.25.

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.