why Relmada Therapeutics Inc. [RLMD] is a Good Choice for Investors After New Price Target of $66.00

Relmada Therapeutics Inc. [NASDAQ: RLMD] loss -79.57% on the last trading session, reaching $6.47 price per share at the time. The company report on October 13, 2022 that Relmada Therapeutics Announces Top-line Results from Phase 3 RELIANCE III Trial for REL-1017 as a Monotherapy for the Treatment of Major Depressive Disorder.


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RELIANCE I and II Adjunctive MDD Trials Continue to Advance.

Relmada Therapeutics, Inc. (Nasdaq: RLMD), a late-stage biotechnology company addressing diseases of the central nervous system (CNS), today announced that its RELIANCE III study (REL-1017-303), evaluating REL-1017 in the monotherapy setting for Major Depressive Disorder (MDD), did not achieve its primary endpoint, which was a statistically significant improvement in depression symptoms compared to placebo as measured by the Montgomery-Asberg Depression Rating Scale (MADRS) on Day 28. In the study, the REL-1017 treatment arm showed a MADRS reduction of 14.8 points at Day 28 versus 13.9 points for the placebo arm, a higher than expected placebo response.  Paradoxical results were observed in certain study sites, where placebo dramatically outperformed REL-1017. Relmada is investigating the nature of these results.

Relmada Therapeutics Inc. represents 29.94 million in outstanding shares, while the company has a total market value of $203.77 million with the latest information. RLMD stock price has been found in the range of $6.10 to $7.45.

If compared to the average trading volume of 370.91K shares, RLMD reached a trading volume of 19585631 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Relmada Therapeutics Inc. [RLMD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RLMD shares is $66.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RLMD stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Relmada Therapeutics Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on October 13, 2022. While these analysts kept the previous recommendation, Mizuho raised their target price to Buy. The new note on the price target was released on November 18, 2021, representing the official price target for Relmada Therapeutics Inc. stock. Previously, the target price had yet another raise to $78, while Goldman analysts kept a Buy rating on RLMD stock. On October 28, 2020, analysts decreased their price target for RLMD shares from 69 to 40.

The Average True Range (ATR) for Relmada Therapeutics Inc. is set at 3.77 The Price to Book ratio for the last quarter was 0.98, with the Price to Cash per share for the same quarter was set at 6.74.

Trading performance analysis for RLMD stock

Relmada Therapeutics Inc. [RLMD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -81.93. With this latest performance, RLMD shares dropped by -80.44% in over the last four-week period, additionally sinking by -75.12% over the last 6 months – not to mention a drop of -74.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RLMD stock in for the last two-week period is set at 17.33, with the RSI for the last a single of trading hit 11.26, and the three-weeks RSI is set at 22.55 for Relmada Therapeutics Inc. [RLMD]. The present Moving Average for the last 50 days of trading for this stock 30.71, while it was recorded at 27.65 for the last single week of trading, and 23.75 for the last 200 days.

Relmada Therapeutics Inc. [RLMD]: A deeper dive into fundamental analysis

Relmada Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.40 and a Current Ratio set at 11.40.

An analysis of insider ownership at Relmada Therapeutics Inc. [RLMD]

There are presently around $160 million, or 90.10% of RLMD stock, in the hands of institutional investors. The top three institutional holders of RLMD stocks are: RTW INVESTMENTS, LP with ownership of 2,637,581, which is approximately 3.839% of the company’s market cap and around 0.30% of the total institutional ownership; VR ADVISER, LLC, holding 2,270,072 shares of the stock with an approximate value of $14.7 million in RLMD stocks shares; and BLACKROCK INC., currently with $13.94 million in RLMD stock with ownership of nearly 10.247% of the company’s market capitalization.

Positions in Relmada Therapeutics Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 68 institutional holders increased their position in Relmada Therapeutics Inc. [NASDAQ:RLMD] by around 3,016,759 shares. Additionally, 39 investors decreased positions by around 1,319,972 shares, while 22 investors held positions by with 20,418,898 shares. The mentioned changes placed institutional holdings at 24,755,629 shares, according to the latest SEC report filing. RLMD stock had 18 new institutional investments in for a total of 1,120,448 shares, while 14 institutional investors sold positions of 528,542 shares during the same period.

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