HC Wainwright Reiterates “Buy” Rating for Rezolute (NASDAQ:RZLT)

HC Wainwright reiterated their buy rating on shares of Rezolute (NASDAQ:RZLT) in a report released on Friday, Benzinga reports. They currently have a $14.00 target price on the stock.

Several other analysts also recently issued reports on the stock. Maxim Group upped their price objective on shares of Rezolute from $8.00 to $10.00 and gave the stock a buy rating in a report on Tuesday, August 6th. Guggenheim started coverage on shares of Rezolute in a research note on Tuesday, August 27th. They issued a buy rating and a $11.00 price objective for the company. Craig Hallum started coverage on shares of Rezolute in a research note on Tuesday, June 4th. They issued a buy rating and a $14.00 price objective for the company. JMP Securities restated a market outperform rating and issued a $7.00 price objective on shares of Rezolute in a research note on Friday, September 20th. Finally, BTIG Research increased their price objective on shares of Rezolute from $13.00 to $15.00 and gave the company a buy rating in a research note on Tuesday, September 10th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rezolute presently has an average rating of Buy and a consensus target price of $11.57.

Rezolute Stock Up 2.0 %

NASDAQ RZLT opened at $4.98 on Friday. The stock has a market capitalization of $199.87 million, a PE ratio of -4.37 and a beta of 1.18. The company has a 50 day moving average price of $4.64 and a two-hundred day moving average price of $3.85. Rezolute has a 12-month low of $0.72 and a 12-month high of $6.10.

Rezolute (NASDAQ:RZLT) last posted its earnings results on Thursday, September 19th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). As a group, equities analysts anticipate that Rezolute will post -1.38 EPS for the current year.

Institutional Investors Weigh In On Rezolute

A number of hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Rezolute during the 1st quarter worth about $37,000. Jeppson Wealth Management LLC bought a new position in shares of Rezolute in the 2nd quarter valued at about $45,000. XTX Topco Ltd boosted its stake in shares of Rezolute by 205.8% in the 2nd quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock valued at $145,000 after purchasing an additional 22,660 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Rezolute in the 1st quarter valued at about $229,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Rezolute by 366.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock valued at $233,000 after purchasing an additional 42,597 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.