Relmada Therapeutics (NASDAQ:RLMD) Releases Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Posted by Trevor Kearing on Aug 10th, 2024

Relmada Therapeutics (NASDAQ:RLMD – Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.24, Zacks reports. During the same period in the previous year, the company earned ($0.84) earnings per share.

Relmada Therapeutics Price Performance

Shares of RLMD remained flat at $2.30 on Friday. The company had a trading volume of 384,686 shares, compared to its average volume of 102,087. Relmada Therapeutics has a 1-year low of $2.21 and a 1-year high of $7.22. The stock has a market cap of $69.39 million, a price-to-earnings ratio of -0.73 and a beta of 0.50. The company’s fifty day moving average is $3.37 and its 200-day moving average is $4.15.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group downgraded shares of Relmada Therapeutics from a “neutral” rating to a “sell” rating and cut their price target for the company from $3.00 to $2.00 in a report on Wednesday, June 5th.

View Our Latest Stock Report on RLMD

Relmada Therapeutics Company Profile

(Get Free Report)

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.