Rezolute’s (RZLT) “Buy” Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Rezolute (NASDAQ:RZLT) in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a $17.00 target price on the stock.

Several other research analysts also recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $12.00 price objective on shares of Rezolute in a research report on Thursday, September 18th. JMP Securities set a $17.00 target price on shares of Rezolute in a research note on Wednesday, October 29th. Maxim Group raised their price target on Rezolute from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Citizens Jmp boosted their price target on Rezolute from $9.00 to $17.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 29th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Rezolute in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Rezolute currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Rezolute Stock Up 1.9%

RZLT opened at $9.83 on Thursday. Rezolute has a 52 week low of $2.21 and a 52 week high of $11.46. The business’s 50 day moving average is $9.13 and its two-hundred day moving average is $6.65. The firm has a market cap of $911.54 million, a price-to-earnings ratio of -10.57 and a beta of 0.07.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.09. Equities analysts expect that Rezolute will post -0.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Rezolute

A number of hedge funds have recently added to or reduced their stakes in RZLT. BNP Paribas Financial Markets acquired a new position in Rezolute during the 2nd quarter worth approximately $25,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Rezolute in the second quarter valued at approximately $30,000. Legal & General Group Plc acquired a new position in Rezolute during the second quarter worth $32,000. Raymond James Financial Inc. acquired a new position in Rezolute during the second quarter worth $46,000. Finally, Paloma Partners Management Co purchased a new position in Rezolute in the first quarter worth $48,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.