Rezolute (NASDAQ:RZLT) Stock Gets Price Target Increase from HC Wainwright

Rezolute (NASDAQ:RZLT) had its price objective upped by HC Wainwright from $5.00 to $10.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 147.83% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Guggenheim raised their target price on shares of Rezolute from $6.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rezolute in a report on Friday, July 17th. BTIG Research raised their price objective on shares of Rezolute from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. HSBC raised Rezolute to a “buy” rating in a report on Friday. Finally, Citigroup reiterated a “market outperform” rating on shares of Rezolute in a research report on Friday. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $10.00.

Rezolute Stock Up 2.4%

NASDAQ:RZLT traded up $0.10 during trading hours on Friday, reaching $4.04. 857,589 shares of the company’s stock were exchanged, compared to its average volume of 2,231,782. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46. The firm has a market capitalization of $388.53 million, a price-to-earnings ratio of -4.92 and a beta of 0.60. The company has a 50-day moving average of $4.59 and a 200 day moving average of $4.02.

Rezolute (NASDAQ:RZLT) last posted 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). Research analysts forecast that Rezolute will post -0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Rezolute

A number of institutional investors and hedge funds have recently modified their holdings of RZLT. Sequoia Financial Advisors LLC acquired a new position in Rezolute during the second quarter worth $75,000. WINTON GROUP Ltd acquired a new position in shares of Rezolute during the 2nd quarter worth $88,000. Integrated Wealth Concepts LLC acquired a new position in shares of Rezolute during the 2nd quarter worth $143,000. Wellington Management Group LLP purchased a new stake in shares of Rezolute in the 2nd quarter worth about $276,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Rezolute in the 2nd quarter worth about $267,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Rezolute Company Profile

Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for rare and metabolic diseases. The company’s research is centered on therapies that address abnormal insulin activity and other conditions involving disrupted glucose regulation.

Rezolute’s leading product candidate is RZ358, an investigational monoclonal antibody designed to reduce the effects of excessive insulin. The therapy is being developed primarily for congenital hyperinsulinism, a rare disorder in which the pancreas produces too much insulin and causes potentially severe, recurrent hypoglycemia.