Rezolute, Inc. (NASDAQ:RZLT) Receives Average Recommendation of “Buy” from Brokerages

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been given an average rating of “Buy” by the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $24.13.

Several equities research analysts have issued reports on the stock. Guggenheim assumed coverage on shares of Rezolute in a research report on Tuesday, August 27th. They issued a “buy” rating and a $11.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research report on Friday, November 8th. BTIG Research boosted their price objective on shares of Rezolute from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Maxim Group boosted their price objective on shares of Rezolute from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $7.00 price target on shares of Rezolute in a research report on Friday, September 20th.

Institutional Investors Weigh In On Rezolute

A number of hedge funds and other institutional investors have recently bought and sold shares of RZLT. Vanguard Group Inc. lifted its position in Rezolute by 10.4% during the first quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock valued at $3,961,000 after acquiring an additional 145,700 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Rezolute during the 1st quarter valued at approximately $229,000. Virtu Financial LLC acquired a new position in Rezolute during the 1st quarter valued at approximately $37,000. Rosalind Advisors Inc. increased its stake in Rezolute by 25.0% during the 2nd quarter. Rosalind Advisors Inc. now owns 250,000 shares of the company’s stock valued at $1,075,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Jeppson Wealth Management LLC acquired a new position in Rezolute during the 2nd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Rezolute Trading Down 1.0 %

Shares of NASDAQ:RZLT opened at $4.86 on Tuesday. The company has a market capitalization of $281.59 million, a price-to-earnings ratio of -3.83 and a beta of 1.18. Rezolute has a 12 month low of $0.72 and a 12 month high of $6.19. The firm’s 50-day moving average is $5.12 and its 200 day moving average is $4.59.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings results on Thursday, September 19th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.14). As a group, equities analysts forecast that Rezolute will post -0.99 EPS for the current fiscal 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.