Rezolute (NASDAQ:RZLT) Raised to Outperform at Wedbush

Rezolute (NASDAQ:RZLT) was upgraded by research analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $5.00 target price on the stock, up from their previous target price of $2.00. Wedbush’s target price points to a potential upside of 85.87% from the stock’s current price.

Several other research analysts also recently issued reports on the company. BTIG Research restated a “buy” rating and set a $5.00 price objective on shares of Rezolute in a research report on Thursday, January 8th. Guggenheim cut their price target on Rezolute from $15.00 to $6.00 and set a “buy” rating for the company in a report on Friday, December 12th. HC Wainwright decreased their price objective on Rezolute from $14.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, December 12th. Citizens Jmp cut Rezolute from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Finally, Maxim Group set a $4.00 target price on shares of Rezolute in a report on Friday, December 12th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.00.

Rezolute Trading Up 12.1%

Shares of NASDAQ RZLT opened at $2.69 on Wednesday. The company’s 50-day moving average price is $3.12 and its 200 day moving average price is $5.86. Rezolute has a 52 week low of $1.07 and a 52 week high of $11.46. The stock has a market cap of $257.43 million, a price-to-earnings ratio of -2.89 and a beta of 0.51.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Thursday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06). As a group, research analysts expect that Rezolute will post -0.93 earnings per share for the current year.

Institutional Investors Weigh In On Rezolute

A number of hedge funds and other institutional investors have recently made changes to their positions in RZLT. New York State Common Retirement Fund lifted its position in Rezolute by 5.6% during the third quarter. New York State Common Retirement Fund now owns 24,600 shares of the company’s stock worth $231,000 after buying an additional 1,300 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Rezolute by 5.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,201 shares of the company’s stock valued at $312,000 after acquiring an additional 1,567 shares during the last quarter. Pale Fire Capital SE lifted its holdings in shares of Rezolute by 4.2% during the 2nd quarter. Pale Fire Capital SE now owns 49,122 shares of the company’s stock worth $219,000 after acquiring an additional 2,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Rezolute by 5.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,659 shares of the company’s stock worth $363,000 after acquiring an additional 2,014 shares during the last quarter. Finally, Huntleigh Advisors Inc. boosted its position in shares of Rezolute by 16.7% in the third quarter. Huntleigh Advisors Inc. now owns 17,500 shares of the company’s stock worth $164,000 after acquiring an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.