Relmada Therapeutics (NASDAQ:RLMD) Issues Earnings Results, Beats Estimates By $0.24 EPS

Relmada Therapeutics (NASDAQ:RLMD) posted its quarterly earnings results on Wednesday. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.24, Zacks reports. During the same quarter in the prior year, the company earned ($0.84) earnings per share.

Relmada Therapeutics Stock Performance

Shares of Relmada Therapeutics stock remained flat at $2.30 during trading on Friday. 384,686 shares of the stock were exchanged, compared to its average volume of 102,087. The firm has a market cap of $69.39 million, a price-to-earnings ratio of -0.73 and a beta of 0.50. Relmada Therapeutics has a one year low of $2.21 and a one year high of $7.22. The stock’s 50-day moving average is $3.37 and its two-hundred day moving average is $4.15.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lowered Relmada Therapeutics from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $3.00 to $2.00 in a research report on Wednesday, June 5th.

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.