Rezolute, Inc. (NASDAQ:RZLT) Receives $9.38 Consensus Target Price from Brokerages

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been given a consensus rating of “Moderate Buy” by the twelve analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $9.3750.

A number of equities research analysts recently weighed in on the company. Maxim Group raised their price objective on Rezolute from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Rezolute in a research report on Friday, July 17th. Wall Street Zen cut shares of Rezolute from a “hold” rating to a “sell” rating in a report on Tuesday, June 30th. Wedbush lifted their price target on shares of Rezolute from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Rezolute in a research note on Wednesday, June 3rd.

Rezolute Stock Performance

Shares of NASDAQ RZLT opened at $5.01 on Wednesday. Rezolute has a 12-month low of $1.07 and a 12-month high of $11.46. The stock’s fifty day simple moving average is $4.86 and its two-hundred day simple moving average is $3.87. The stock has a market capitalization of $482.41 million, a PE ratio of -6.11 and a beta of 0.58.

Institutional Investors Weigh In On Rezolute

A number of large investors have recently modified their holdings of RZLT. RA Capital Management L.P. acquired a new position in shares of Rezolute during the fourth quarter valued at about $21,665,000. Opaleye Management Inc. boosted its stake in Rezolute by 595.9% in the 4th quarter. Opaleye Management Inc. now owns 6,287,156 shares of the company’s stock worth $14,838,000 after purchasing an additional 5,383,714 shares in the last quarter. Jennison Associates LLC purchased a new stake in Rezolute during the 1st quarter worth approximately $10,489,000. Siren L.L.C. purchased a new stake in Rezolute during the 1st quarter worth approximately $10,151,000. Finally, Balyasny Asset Management L.P. increased its stake in Rezolute by 147.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 4,506,861 shares of the company’s stock valued at $10,636,000 after purchasing an additional 2,684,133 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

About Rezolute

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.