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

BTIG Research restated their buy rating on shares of Rezolute (NASDAQ:RZLT) in a research note published on Thursday,Benzinga reports. The brokerage currently has a $5.00 price target on the stock.

A number of other research firms also recently commented on RZLT. Maxim Group set a $4.00 target price on shares of Rezolute in a research report on Friday, December 12th. JMP Securities set a $17.00 price objective on shares of Rezolute in a report on Wednesday, October 29th. HC Wainwright reduced their price objective on shares of Rezolute from $14.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, December 12th. Citizens Jmp cut Rezolute from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Finally, Guggenheim cut their price target on Rezolute from $15.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, December 12th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.67.

Rezolute Stock Up 0.9%

Shares of NASDAQ RZLT opened at $2.37 on Thursday. Rezolute has a twelve month low of $1.07 and a twelve month high of $11.46. The firm has a market cap of $219.77 million, a PE ratio of -2.55 and a beta of 0.39. The business has a fifty day simple moving average of $6.57 and a two-hundred day simple moving average of $6.88.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. On average, research analysts expect that Rezolute will post -0.93 earnings per share for the current year.

Insiders Place Their Bets

In other Rezolute news, CEO Nevan C. Elam acquired 32,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was purchased at an average price of $1.59 per share, for a total transaction of $50,880.00. Following the acquisition, the chief executive officer owned 641,119 shares in the company, valued at approximately $1,019,379.21. This trade represents a 5.25% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daron Evans bought 40,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were acquired at an average price of $1.77 per share, for a total transaction of $70,800.00. Following the completion of the purchase, the chief financial officer owned 415,900 shares in the company, valued at $736,143. The trade was a 10.64% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 89,100 shares of company stock worth $150,232. Insiders own 14.78% of the company’s stock.

Institutional Trading of Rezolute

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new stake in Rezolute during the 2nd quarter worth approximately $25,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Rezolute during the second quarter worth $30,000. Legal & General Group Plc purchased a new stake in shares of Rezolute during the second quarter valued at $32,000. Raymond James Financial Inc. acquired a new position in shares of Rezolute in the 2nd quarter valued at $46,000. Finally, ProShare Advisors LLC acquired a new position in shares of Rezolute in the 2nd quarter valued at $61,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.