Buy Rating for Relmada Therapeutics Supported by Strong Clinical Pipeline and Financial Stability

Analyst Marc Goodman from Leerink Partners maintained a Buy rating on Relmada Therapeutics (RLMD – Research Report) and keeping the price target at $10.00.

Marc Goodman has given his Buy rating due to a combination of factors that indicate a strong outlook for Relmada Therapeutics. Firstly, the company’s clinical pipeline is advancing as scheduled, with significant milestones on the horizon for their leading candidate, REL-1017, in Major Depressive Disorder (MDD) treatment. The anticipated completion of enrollment for two critical Phase 3 studies within the year and the promise of forthcoming top-line data are key drivers of optimism.

Additionally, Relmada’s financial position appears stable, with sufficient cash reserves projected to support operations well into 2025. This financial security, coupled with the initiation of a new Phase 1 trial in obesity for their modified release psilocybin candidate, suggests a strategic expansion of their research portfolio. Goodman’s confidence is further solidified by the company’s meticulous execution of their development plans, which is a positive sign for potential investors.

Goodman covers the Healthcare sector, focusing on stocks such as Marinus, Amylyx Pharmaceuticals Inc, and Alkermes. According to TipRanks, Goodman has an average return of 3.6% and a 44.09% success rate on recommended stocks.

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Relmada Therapeutics (RLMD) Company Description:

Relmada Therapeutics, Inc. is a clinical-stage biotechnology company. It engages in the development of d-methadone receptor antagonist, which is a chemical entity that addresses areas of high unmet medical need in the treatment of central nervous system diseases and other disorders. The company was founded on May 31, 2012 and is headquartered in New York, NY.