Wedbush Reaffirms “Outperform” Rating for Rezolute (NASDAQ:RZLT)

Rezolute (NASDAQ:RZLT)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report issued on Monday, Marketbeat Ratings reports. They currently have a $112.00 target price on the stock.

Several other equities analysts have also issued reports on RZLT. HC Wainwright restated a “buy” rating and issued a $14.00 target price on shares of Rezolute in a report on Friday, September 27th. Maxim Group upped their target price on Rezolute from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. BTIG Research raised their target price on Rezolute from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Guggenheim initiated coverage on Rezolute in a research note on Tuesday, August 27th. They issued a “buy” rating and a $11.00 price target on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price objective on shares of Rezolute in a research report on Friday, September 20th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rezolute currently has a consensus rating of “Buy” and a consensus target price of $24.13.

Rezolute Stock Performance

Shares of RZLT stock opened at $5.44 on Monday. Rezolute has a 1-year low of $0.72 and a 1-year high of $6.10. The stock has a market cap of $304.26 million, a price-to-earnings ratio of -4.09 and a beta of 1.18. The stock has a 50-day moving average of $4.99 and a 200-day moving average of $4.35.

Rezolute (NASDAQ:RZLT) last released its 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). Sell-side analysts forecast that Rezolute will post -1.23 earnings per share for the current year.

Institutional Trading of Rezolute

Several hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. lifted its stake in shares of Rezolute by 11.1% in the second quarter. Federated Hermes Inc. now owns 11,279,327 shares of the company’s stock valued at $48,501,000 after buying an additional 1,125,000 shares in the last quarter. Affinity Asset Advisors LLC lifted its position in Rezolute by 15.6% in the 2nd quarter. Affinity Asset Advisors LLC now owns 1,850,000 shares of the company’s stock valued at $7,955,000 after acquiring an additional 250,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in Rezolute by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock valued at $3,961,000 after purchasing an additional 145,700 shares during the last quarter. Marshall Wace LLP bought a new stake in Rezolute during the 2nd quarter worth approximately $4,503,000. Finally, Rosalind Advisors Inc. raised its stake in shares of Rezolute by 25.0% in the second quarter. Rosalind Advisors Inc. now owns 250,000 shares of the company’s stock worth $1,075,000 after purchasing an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

About Rezolute

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.