Relmada Therapeutics Upgraded to Buy, 240% Upside Projected

A recent report indicates that Jefferies upgraded Relmada Therapeutics from Hold to Buy. The price target suggests a significant upside potential of 240.84%, raising investor interest. However, projected EPS remains negative, indicating challenges ahead for the company.

Date: 18-09-2024

AI Rating: 7

The report highlights several key points regarding Relmada Therapeutics that could impact investor sentiment and stock price.

Upgrade to Buy: Jefferies has upgraded their outlook for Relmada from Hold to Buy, a strong positive signal for potential investors.
Price Target and Upside: With a projected average one-year price target of $10.33/share, representing a 240.84% upside from the current closing price of $3.03/share, this presents an excellent opportunity for bullish investors.
EPS: The projected annual non-GAAP EPS is -3.19, indicating the company is currently operating at a loss, which could be a deterrent for some investors.
Revenue Projection: The projected annual revenue is $4 million. While this shows some revenue generation, the figure may be low considering the expectations for growth implied by the stock price target.
Institutional Ownership: Institutional positions show a decrease in ownership by 10.74% in the last quarter. This could indicate waning confidence among institutional investors despite the upgrade.
Put/Call Ratio: A put/call ratio of 0.12 suggests a bullish sentiment among options traders, further supporting the belief that the stock could rally.

In summary, the upgrade from Jefferies and significant upside potential could lead to positive movement in Relmada's stock price. However, the negative EPS and lowering institutional ownership may raise concerns among cautious investors.

Stocks: RLMD