Rezolute, Inc. (NASDAQ:RZLT) Stock Has Average Price Target of $11.22

Rezolute, Inc. (NASDAQ:RZLT) has earned an average rating of “Moderate Buy” from the fourteen research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $11.22.

Several research firms recently commented on RZLT. HC Wainwright raised their target price on Rezolute from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, September 25th. Lake Street Capital boosted their price target on Rezolute from $9.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday. Citizens Jmp upped their price objective on Rezolute from $11.00 to $15.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Rezolute in a research report on Friday, July 17th. Finally, HSBC raised shares of Rezolute to a “buy” rating in a research note on Friday, September 25th.

Rezolute Stock Performance

NASDAQ:RZLT opened at $4.87 on Thursday. Rezolute has a one year low of $1.07 and a one year high of $11.46. The firm has a market cap of $471.08 million, a price-to-earnings ratio of -6.41 and a beta of 0.53. The firm’s fifty day moving average is $4.46 and its two-hundred day moving average is $4.13.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings data on Thursday, September 24th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). As a group, equities research analysts predict that Rezolute will post -0.63 earnings per share for the current fiscal year.

Institutional Trading of Rezolute

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC acquired a new position in shares of Rezolute in the first quarter worth about $10,489,000. Siren L.L.C. purchased a new stake in shares of Rezolute during the 1st quarter worth about $10,151,000. Dimensional Fund Advisors LP grew its position in shares of Rezolute by 273.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 530,229 shares of the company’s stock valued at $1,617,000 after acquiring an additional 388,346 shares during the period. Knott David M Jr grew its position in shares of Rezolute by 8.8% during the 1st quarter. Knott David M Jr now owns 370,000 shares of the company’s stock valued at $1,128,000 after acquiring an additional 30,000 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Rezolute in the 2nd quarter valued at about $1,104,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

About Rezolute

Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for metabolic diseases. The company’s research is centered on conditions involving abnormal insulin signaling and glucose regulation, including rare disorders and complications associated with diabetes.

Rezolute’s lead investigational product is RZ358, a human monoclonal antibody designed to reduce the effects of excessive insulin activity. The therapy is being developed primarily for congenital hyperinsulinism, a rare disorder in which the pancreas releases too much insulin and causes potentially dangerous episodes of low blood sugar.