Rezolute (NASDAQ:RZLT) Stock Price Expected to Rise, JMP Securities Analyst Says

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

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

Rezolute Stock Up 0.3 %

NASDAQ:RZLT traded up $0.02 on Thursday, reaching $4.88. The stock had a trading volume of 25,552 shares, compared to its average volume of 539,098. Rezolute has a 1-year low of $1.06 and a 1-year high of $6.19. The stock has a fifty day moving average price of $4.88 and a 200-day moving average price of $4.90. The company has a market capitalization of $282.46 million, a P/E ratio of -3.84 and a beta of 1.10.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.11. Sell-side analysts predict that Rezolute will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Rezolute

In other Rezolute news, CFO Daron Evans acquired 9,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $4.60 per share, for a total transaction of $41,400.00. Following the acquisition, the chief financial officer now directly owns 140,900 shares of the company’s stock, valued at approximately $648,140. This trade represents a 6.82 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 18.39% of the company’s stock.

Institutional Trading of Rezolute

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in shares of Rezolute by 39.0% during the third quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock worth $2,385,000 after acquiring an additional 137,905 shares during the period. MML Investors Services LLC bought a new stake in Rezolute during the 3rd quarter worth about $57,000. JPMorgan Chase & Co. acquired a new position in shares of Rezolute during the 3rd quarter worth about $42,000. State Street Corp grew its holdings in shares of Rezolute by 11.6% in the 3rd quarter. State Street Corp now owns 125,472 shares of the company’s stock valued at $609,000 after acquiring an additional 13,000 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Rezolute in the third quarter valued at about $239,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.