Rezolute, Inc. (NASDAQ:RZLT) Receives Average Recommendation of “Buy” from Analysts

Rezolute, Inc. (NASDAQ:RZLT) has earned a consensus rating of “Buy” from the eight analysts that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $24.13.

RZLT has been the topic of a number of research reports. Maxim Group boosted their target price on shares of Rezolute from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Guggenheim initiated coverage on shares of Rezolute in a research note on Tuesday, August 27th. They set a “buy” rating and a $11.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Rezolute in a research note on Friday, September 27th. Wedbush reiterated an “outperform” rating and set a $112.00 price target on shares of Rezolute in a research note on Monday. Finally, BTIG Research lifted their price target on shares of Rezolute from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th.

Institutional Investors Weigh In On Rezolute

Several institutional investors and hedge funds have recently made changes to their positions in RZLT. Vanguard Group Inc. raised its holdings in shares of Rezolute by 10.4% in the first quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock valued at $3,961,000 after buying an additional 145,700 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Rezolute in the first quarter valued at about $229,000. Affinity Asset Advisors LLC bought a new position in shares of Rezolute in the first quarter valued at about $4,080,000. Virtu Financial LLC bought a new position in shares of Rezolute in the first quarter valued at about $37,000. Finally, Rosalind Advisors Inc. raised its holdings in shares of Rezolute by 25.0% in the second quarter. Rosalind Advisors Inc. now owns 250,000 shares of the company’s stock valued at $1,075,000 after buying an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Rezolute Stock Performance

Shares of RZLT stock opened at $5.44 on Friday. Rezolute has a 1 year low of $0.72 and a 1 year high of $6.10. The firm’s fifty day simple moving average is $4.99 and its 200 day simple moving average is $4.35. The firm has a market capitalization of $304.26 million, a P/E ratio of -4.09 and a beta of 1.18.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Thursday, September 19th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). Equities research analysts anticipate that Rezolute will post -1.23 EPS for the current fiscal year.

Rezolute Company Profile

Rezolute, Inc, a clinical stage biopharmaceutical company, develops therapies for metabolic diseases associated with chronic glucose imbalance in the United States. The company's lead product candidate is RZ358, a human monoclonal antibody that is in Phase 2b clinical trial for the treatment of congenital hyperinsulinism, an ultra-rare pediatric genetic disorder.