Leerink Partners analyst Marc Goodman has maintained their neutral stance on RLMD stock, giving a Hold rating on March 26.
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Marc Goodman has given his Hold rating due to a combination of factors related to Relmada Therapeutics’ current financial and developmental status. The company recently reported its fourth-quarter results and provided updates on its pipeline projects, which are still in early stages. The anticipated data from the NDV-01 trial for bladder cancer and the upcoming Phase 2 studies for sepranolone in Tourette syndrome and Prader-Willi Syndrome are key future events that could impact the company’s outlook.
However, these developments are not expected to occur until late 2025 or early 2026, which suggests a period of uncertainty in the near term. Additionally, the company’s decision to reassess the development of its novel psilocybin project, ‘P11, indicates a strategic shift that may affect future growth. With $45 million in cash reserves, the company has some financial stability, but the lack of immediate catalysts and the need for more data to evaluate the pipeline’s potential contribute to the Hold rating.
In another report released on March 26, Mizuho Securities also reiterated a Hold rating on the stock with a $1.00 price target.