Rezolute’s (RZLT) Market Outperform Rating Reaffirmed at JMP Securities

Rezolute (NASDAQ:RZLT)‘s stock had its “market outperform” rating restated by investment analysts at JMP Securities in a research report issued on Thursday, Benzinga reports. They currently have a $7.00 price objective on the stock. JMP Securities’ price target points to a potential upside of 104.08% from the company’s previous close.

Several other research firms also recently commented on RZLT. Maxim Group started coverage on shares of Rezolute in a report on Tuesday, April 9th. They issued a “buy” rating and a $8.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $14.00 target price on shares of Rezolute in a report on Thursday, March 7th. Finally, Jonestrading started coverage on shares of Rezolute in a report on Thursday. They issued a “buy” rating and a $10.00 target price on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $8.80.

Rezolute Price Performance

Shares of NASDAQ:RZLT opened at $3.43 on Thursday. Rezolute has a 1-year low of $0.72 and a 1-year high of $3.63. The company has a market capitalization of $137.65 million, a P/E ratio of -3.12 and a beta of 1.29. The firm’s 50 day simple moving average is $2.05 and its two-hundred day simple moving average is $1.33.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.27) earnings per share for the quarter, meeting the consensus estimate of ($0.27). On average, sell-side analysts anticipate that Rezolute will post -1.06 earnings per share for the current fiscal year.

Insider Transactions at Rezolute

In other Rezolute news, CFO Daron Evans purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average price of $1.93 per share, with a total value of $96,500.00. Following the completion of the purchase, the chief financial officer now directly owns 120,900 shares in the company, valued at $233,337. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Rezolute news, Director Young-Jin Kim purchased 36,503 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were bought at an average price of $1.91 per share, with a total value of $69,720.73. Following the completion of the purchase, the director now directly owns 115,450 shares in the company, valued at $220,509.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daron Evans purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average cost of $1.93 per share, for a total transaction of $96,500.00. Following the purchase, the chief financial officer now owns 120,900 shares of the company’s stock, valued at $233,337. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 179,403 shares of company stock valued at $306,601. 18.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RZLT. Vanguard Group Inc. lifted its holdings in shares of Rezolute by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 343,739 shares of the company’s stock worth $1,162,000 after acquiring an additional 10,500 shares during the last quarter. Northern Trust Corp lifted its stake in Rezolute by 15.0% in the second quarter. Northern Trust Corp now owns 86,018 shares of the company’s stock worth $170,000 after purchasing an additional 11,219 shares during the last quarter. Millennium Management LLC bought a new stake in Rezolute in the fourth quarter worth about $32,000. Renaissance Technologies LLC bought a new stake in Rezolute in the second quarter worth about $58,000. Finally, FMR LLC bought a new stake in Rezolute in the first quarter worth about $39,000. Institutional investors own 82.97% of the company’s stock.

Rezolute Company Profile

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.