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

Rezolute, Inc. (NASDAQ:RZLT) has received an average rating of “Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1-year 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 recent analyst reports. Wedbush reissued an “outperform” rating and set a $112.00 price target on shares of Rezolute in a report on Monday, November 4th. BTIG Research increased their price target on shares of Rezolute from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. JMP Securities reissued a “market outperform” rating and set a $7.00 price target on shares of Rezolute in a report on Friday, September 20th. Guggenheim started coverage on shares of Rezolute in a report on Tuesday, August 27th. They set a “buy” rating and a $11.00 price target on the stock. Finally, Maxim Group increased their price objective on shares of Rezolute from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th.

Rezolute Price Performance

NASDAQ:RZLT opened at $4.86 on Tuesday. The firm has a market capitalization of $281.59 million, a P/E ratio of -3.83 and a beta of 1.18. Rezolute has a 1-year low of $0.72 and a 1-year high of $6.19. The company’s fifty day moving average price is $5.12 and its 200-day moving average price is $4.59.

Rezolute (NASDAQ:RZLT) last announced its quarterly 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 analysts anticipate that Rezolute will post -0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Rezolute

Several hedge funds and other institutional investors have recently modified their holdings of RZLT. Vanguard Group Inc. lifted its stake 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 worth $3,961,000 after buying an additional 145,700 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Rezolute during the first quarter worth about $229,000. Virtu Financial LLC purchased a new stake in shares of Rezolute in the 1st quarter valued at approximately $37,000. Rosalind Advisors Inc. raised its stake in shares of Rezolute by 25.0% in the 2nd quarter. Rosalind Advisors Inc. now owns 250,000 shares of the company’s stock valued at $1,075,000 after acquiring an additional 50,000 shares during the period. Finally, Jeppson Wealth Management LLC purchased a new stake in shares of Rezolute in the 2nd quarter valued at approximately $45,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.