Rezolute, Inc. (NASDAQ:RZLT) Receives Average Rating of “Buy” from Brokerages

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been assigned an average rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $24.38.

RZLT has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research report on Thursday, February 13th. JMP Securities lifted their price objective on Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. Craig Hallum raised Rezolute to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Guggenheim reissued a “buy” rating on shares of Rezolute in a research report on Monday, February 10th.

Rezolute Stock Up 5.6 %

Shares of NASDAQ:RZLT opened at $3.76 on Thursday. The firm has a market cap of $227.61 million, a P/E ratio of -3.08 and a beta of 0.95. Rezolute has a 12-month low of $1.66 and a 12-month high of $6.19. The business has a fifty day simple moving average of $4.70 and a 200 day simple moving average of $4.88.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.11. As a group, equities research analysts expect that Rezolute will post -0.93 EPS for the current year.

Insider Activity

In related news, CFO Daron Evans purchased 10,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the purchase, the chief financial officer now owns 150,900 shares of the company’s stock, valued at approximately $647,361. This trade represents a 7.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 18.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rezolute

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new position in Rezolute during the 3rd quarter valued at about $42,000. Alpine Global Management LLC acquired a new position in Rezolute during the 4th quarter valued at about $54,000. MML Investors Services LLC acquired a new position in Rezolute during the 3rd quarter valued at about $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Rezolute during the 3rd quarter valued at about $65,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Rezolute by 65.4% during the 4th 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 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.