Rezolute (NASDAQ:RZLT) Given New $9.00 Price Target at JMP Securities

Rezolute (NASDAQ:RZLT) had its price objective hoisted by research analysts at JMP Securities from $8.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ target price points to a potential upside of 84.62% from the company’s previous close.

A number of other brokerages have also issued reports on RZLT. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Rezolute in a research report on Wednesday, February 5th. Craig Hallum raised Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Wedbush reaffirmed an “outperform” rating and set a $112.00 price target on shares of Rezolute in a research note on Monday, November 4th. Finally, Guggenheim restated a “buy” rating on shares of Rezolute in a report on Monday. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $24.38.

Rezolute Price Performance

NASDAQ:RZLT traded up $0.02 during midday trading on Thursday, reaching $4.88. 25,552 shares of the company traded hands, compared to its average volume of 539,098. The company has a fifty day moving average price of $4.88 and a 200 day moving average price of $4.90. The firm has a market capitalization of $282.46 million, a price-to-earnings ratio of -3.84 and a beta of 1.10. Rezolute has a twelve month low of $1.06 and a twelve month high of $6.19.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.11. On average, equities research analysts forecast that Rezolute will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Daron Evans acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the acquisition, the chief financial officer now owns 150,900 shares in the company, valued at approximately $647,361. The trade was a 7.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 18.39% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. ExodusPoint Capital Management LP acquired a new position in shares of Rezolute during the fourth quarter worth approximately $277,000. Geode Capital Management LLC increased its stake in Rezolute by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 517,014 shares of the company’s stock valued at $2,535,000 after acquiring an additional 25,413 shares during the period. American Century Companies Inc. raised its holdings in Rezolute by 62.1% in the 4th quarter. American Century Companies Inc. now owns 64,591 shares of the company’s stock valued at $316,000 after acquiring an additional 24,742 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Rezolute by 65.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock valued at $112,000 after purchasing an additional 9,000 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in Rezolute in the third quarter worth $42,000. Institutional investors 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.