Rezolute, Inc. (NASDAQ:RZLT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been assigned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $9.3750.

A number of brokerages have recently weighed in on RZLT. HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Rezolute in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rezolute in a report on Tuesday, April 21st. Maxim Group lifted their target price on Rezolute from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Citizens Jmp raised Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 target price for the company in a report on Wednesday, June 3rd. Finally, Guggenheim lifted their target price on Rezolute from $6.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, June 15th.

Institutional Investors Weigh In On Rezolute

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in shares of Rezolute during the second quarter worth about $25,000. ExodusPoint Capital Management LP acquired a new stake in shares of Rezolute during the fourth quarter worth about $25,000. HB Wealth Management LLC acquired a new stake in shares of Rezolute during the fourth quarter worth about $26,000. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Rezolute during the fourth quarter worth about $29,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Rezolute during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Rezolute Stock Performance

Shares of RZLT stock opened at $5.10 on Tuesday. Rezolute has a fifty-two week low of $1.07 and a fifty-two week high of $11.46. The firm has a market capitalization of $491.08 million, a price-to-earnings ratio of -6.22 and a beta of 0.68. The stock’s 50-day simple moving average is $3.78 and its 200-day simple moving average is $3.27.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. As a group, equities analysts forecast that Rezolute will post -0.69 earnings per share for the current year.

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.