Optimistic Outlook for Relmada Therapeutics: A Comprehensive Analysis and Buy Rating

Leerink Partners analyst Marc Goodman maintained a Buy rating on Relmada Therapeutics (RLMD – Research Report) on March 19 and set a price target of $10.00.

Marc Goodman’s rating is based on a comprehensive evaluation of Relmada Therapeutics’ recent performance and future prospects. The company’s pipeline progress, particularly with its Phase 3 trials for REL-1017, has been on track with management’s expectations. Relmada is nearing the completion of enrollment for two significant studies, with the anticipation of revealing top-line data from one of them in the second half of 2024. Furthermore, the initiation of a Phase 1 trial in obesity showcases the company’s commitment to expanding its research and development efforts. Goodman recognizes that Relmada’s financial position is robust, with sufficient capital to fund operations well into 2025, which underpins the company’s stability and potential for growth.

Additionally, Goodman appreciates the strategic measures Relmada has implemented to ensure the integrity and reliability of its clinical trials. By controlling patient enrollment at each site and verifying the medical records of participants, the company is minimizing potential risks that could affect trial outcomes. The increased screening failure rate post-COVID is seen as a reflection of the company’s stringent quality control measures. While the final statistical plan is yet to be filed with the FDA, management’s confidence in the trial’s power to detect clinically meaningful results is a positive indicator. These factors, combined with a strategic approach to their novel REL-P11 compound, contribute to Goodman’s optimism about Relmada’s trajectory, informing his Buy rating for the stock.

Goodman covers the Healthcare sector, focusing on stocks such as Amylyx Pharmaceuticals Inc, ACADIA Pharmaceuticals, and Biogen. According to TipRanks, Goodman has an average return of 5.2% and a 44.53% 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.