Analysts Set Rezolute, Inc. (NASDAQ:RZLT) Price Target at $10.75

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have covered the stock in the last year is $11.57.

A number of research firms recently commented on RZLT. Craig Hallum began coverage on shares of Rezolute in a report on Tuesday, June 4th. They issued a “buy” rating and a $14.00 target price on the stock. Maxim Group raised their target price on shares of Rezolute from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. BTIG Research increased their price target on shares of Rezolute from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Guggenheim began coverage on shares of Rezolute in a report on Tuesday, August 27th. They set a “buy” rating and a $11.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Rezolute in a report on Monday, September 9th.

Rezolute Stock Performance

RZLT opened at $4.87 on Thursday. Rezolute has a 1-year low of $0.72 and a 1-year high of $6.10. The company has a 50-day moving average of $4.60 and a 200-day moving average of $3.69. The company has a market capitalization of $195.46 million, a P/E ratio of -4.27 and a beta of 1.18.

Hedge Funds Weigh In On Rezolute

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Affinity Asset Advisors LLC bought a new position in Rezolute in the 1st quarter worth approximately $4,080,000. Federated Hermes Inc. grew its holdings in shares of Rezolute by 11.1% during the 2nd quarter. Federated Hermes Inc. now owns 11,279,327 shares of the company’s stock valued at $48,501,000 after purchasing an additional 1,125,000 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Rezolute during the 2nd quarter valued at $4,503,000. Rosalind Advisors Inc. bought a new stake in Rezolute in the 1st quarter worth $510,000. Finally, Vanguard Group Inc. grew its holdings in Rezolute by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock worth $3,961,000 after acquiring an additional 145,700 shares during the last quarter. Institutional investors and hedge funds 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.