What is Leerink Partnrs’ Forecast for RLMD FY2024 Earnings?

Relmada Therapeutics, Inc. (NASDAQ:RLMD) – Stock analysts at Leerink Partnrs dropped their FY2024 earnings estimates for shares of Relmada Therapeutics in a research note issued on Wednesday, December 4th. Leerink Partnrs analyst M. Goodman now expects that the company will post earnings of ($2.78) per share for the year, down from their prior 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.

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

Relmada Therapeutics Price Performance

Shares of RLMD stock opened at $0.47 on Monday. The company’s fifty day simple moving average is $3.06 and its two-hundred day simple moving average is $3.13. Relmada Therapeutics has a 1 year low of $0.43 and a 1 year high of $7.22. The stock has a market capitalization of $14.18 million, a price-to-earnings ratio of -0.17 and a beta of 0.35.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. grew its position in shares of Relmada Therapeutics by 28.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,302,151 shares of the company’s stock valued at $4,362,000 after purchasing an additional 289,490 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Relmada Therapeutics by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 304,502 shares of the company’s stock valued at $987,000 after purchasing an additional 44,004 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Relmada Therapeutics by 99.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 157,672 shares of the company’s stock worth $511,000 after acquiring an additional 78,779 shares in the last quarter. HighTower Advisors LLC purchased a new position in Relmada Therapeutics in the third quarter worth $32,000. Finally, FMR LLC grew its position in Relmada Therapeutics by 29.0% in the third quarter. FMR LLC now owns 116,544 shares of the company’s stock worth $378,000 after acquiring an additional 26,185 shares in the last quarter. 45.24% of the stock is currently owned by hedge funds and other 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.