Mizuho Securities Reiterates Relmada Therapeutics Inc (RLMD) at Buy, Remains Confident in Likelihood of Success of Ongoing Phase 3

Mizuho Securities analyst Vamil Divan reiterated a Buy rating and $50.00 price target on Relmada Therapeutics Inc (NASDAQ: RLMD), following a meeting with the company's management.

The analyst quotes: "We come out of our meetings with management encouraged by the progress the team is making with REL-1017's development, and remain confident on the product's likelihood of success in the ongoing Phase 3 program. We continue to assume a 2024 approval/launch for REL-1017 and probability-adjusted sales reaching ~$1Bn in 2030, with a 75% probability of success (POS). Our $50 price target on RLMD shares is based on discounted cash flow (DCF) valuation, with cash flows forecasted through 2035, along with a 10% discount rate and (5.0%) rate of terminal decline. We reiterate our Buy rating on RLMD shares and continue to see it as a Top Pick ahead of multiple Phase 3 readouts in the coming months"

For an analyst ratings summary and ratings history on Relmada Therapeutics Inc click here. For more ratings news on Relmada Therapeutics Inc click here.

Shares of Relmada Therapeutics Inc closed at $21.26 yesterday.

By Vlad Schepkov | [email protected]

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