Rezolute, Inc. (NASDAQ:RZLT) Receives $9.38 Average Target Price from Brokerages

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $9.3750.

RZLT has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Rezolute in a research note on Tuesday, June 2nd. Citizens Jmp raised Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 target price on the stock in a research report on Wednesday, June 3rd. Citigroup upgraded Rezolute from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 3rd. Maxim Group raised their price target on shares of Rezolute from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Wall Street Zen lowered shares of Rezolute from a “hold” rating to a “sell” rating in a research note on Tuesday, June 30th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RZLT. Jennison Associates LLC acquired a new stake in shares of Rezolute in the 1st quarter valued at about $10,489,000. Siren L.L.C. acquired a new position in Rezolute in the first quarter worth about $10,151,000. Caitong International Asset Management Co. Ltd bought a new stake in Rezolute in the fourth quarter valued at about $494,000. HB Wealth Management LLC bought a new stake in Rezolute in the fourth quarter valued at about $26,000. Finally, State of Alaska Department of Revenue bought a new stake in Rezolute in the fourth quarter valued at about $181,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Rezolute Price Performance

Shares of Rezolute stock opened at $4.94 on Friday. The business has a 50-day moving average of $4.43 and a 200-day moving average of $3.60. The company has a market capitalization of $475.67 million, a PE ratio of -6.02 and a beta of 0.54. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Tuesday, May 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. On average, equities analysts expect that Rezolute will post -0.69 earnings per share for the current fiscal year.

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