Rezolute, Inc. (NASDAQ:RZLT) Given Consensus Recommendation of “Buy” by Analysts

Rezolute, Inc. (NASDAQ:RZLT) has been given a consensus rating of “Buy” by the eight analysts that are currently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $24.13.

Several equities research analysts have recently weighed in on the company. Guggenheim initiated coverage on Rezolute in a research report on Tuesday, August 27th. They issued a “buy” rating and a $11.00 target price for the company. BTIG Research upped their price target on Rezolute from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Wedbush reiterated an “outperform” rating and set a $112.00 price objective on shares of Rezolute in a research note on Monday, November 4th. JMP Securities restated a “market outperform” rating and issued a $7.00 target price on shares of Rezolute in a research note on Friday, September 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Rezolute in a report on Friday, November 8th.

Insider Activity at Rezolute

In other news, CFO Daron Evans bought 10,000 shares of Rezolute stock in a transaction on Wednesday, December 18th. The shares were bought at an average price of $4.29 per share, with a total value of $42,900.00. Following the acquisition, the chief financial officer now directly owns 150,900 shares in the company, valued at approximately $647,361. This represents a 7.10 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 23,259 shares of company stock valued at $104,317 over the last ninety days. Corporate insiders own 18.39% of the company’s stock.

Institutional Investors Weigh In On Rezolute

Institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC increased its stake in Rezolute by 366.0% during the second 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. Marshall Wace LLP bought a new stake in shares of Rezolute during the 2nd quarter valued at about $4,503,000. Affinity Asset Advisors LLC grew its position in shares of Rezolute by 15.6% during the 2nd quarter. Affinity Asset Advisors LLC now owns 1,850,000 shares of the company’s stock valued at $7,955,000 after buying an additional 250,000 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Rezolute during the third quarter worth about $239,000. Finally, Exome Asset Management LLC lifted its holdings in Rezolute by 24.7% in the third quarter. Exome Asset Management LLC now owns 352,056 shares of the company’s stock worth $1,707,000 after acquiring an additional 69,656 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Rezolute Stock Up 3.8 %

Shares of RZLT stock opened at $4.39 on Friday. Rezolute has a fifty-two week low of $0.86 and a fifty-two week high of $6.19. The firm’s 50 day moving average price is $5.12 and its two-hundred day moving average price is $4.78. The stock has a market cap of $254.37 million, a price-to-earnings ratio of -3.46 and a beta of 1.01.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Thursday, September 19th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). On average, equities analysts forecast that Rezolute will post -0.99 EPS 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.