Rezolute, Inc. (NASDAQ:RZLT) Receives $24.13 Average Price Target from Brokerages

Shares of Rezolute, Inc. (NASDAQ:RZLT) have received a consensus rating of “Buy” from the eight analysts that are covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $24.13.

Several research firms have recently weighed in on RZLT. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research note on Friday, November 8th. Maxim Group upped their price objective on shares of Rezolute from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Guggenheim assumed coverage on shares of Rezolute in a research report on Tuesday, August 27th. They set a “buy” rating and a $11.00 price objective on the stock. BTIG Research boosted their target price on Rezolute from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $7.00 price target on shares of Rezolute in a report on Friday, September 20th.

Rezolute Price Performance

Shares of RZLT opened at $5.10 on Tuesday. The business has a 50-day moving average of $5.12 and a 200-day moving average of $4.65. The company has a market capitalization of $295.49 million, a price-to-earnings ratio of -4.02 and a beta of 1.18. Rezolute has a 1 year low of $0.76 and a 1 year high of $6.19.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings data 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, sell-side analysts anticipate that Rezolute will post -0.99 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in Rezolute in the 1st quarter valued at about $37,000. Jeppson Wealth Management LLC bought a new stake in Rezolute during the second quarter worth $45,000. MML Investors Services LLC purchased a new position in Rezolute in the third quarter worth $57,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Rezolute in the 3rd quarter valued at $65,000. Finally, XTX Topco Ltd increased its position in shares of Rezolute by 205.8% during 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. Institutional investors 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.