Rezolute, Inc. (NASDAQ:RZLT) Receives $10.14 Average Target Price from Brokerages

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $10.14.

A number of research firms recently weighed in on RZLT. JMP Securities restated a “market outperform” rating and set a $7.00 price target on shares of Rezolute in a research report on Thursday, April 18th. BTIG Research started coverage on shares of Rezolute in a research note on Wednesday, July 17th. They issued a “buy” rating and a $13.00 price target on the stock. Jonestrading started coverage on shares of Rezolute in a research note on Thursday, April 18th. They issued a “buy” rating and a $10.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Rezolute in a research note on Wednesday, May 22nd. Finally, Maxim Group assumed coverage on shares of Rezolute in a research note on Tuesday, April 9th. They set a “buy” rating and a $8.00 target price on the stock.

Rezolute Stock Performance

RZLT opened at $4.68 on Wednesday. The company has a fifty day moving average of $4.30 and a two-hundred day moving average of $2.80. Rezolute has a fifty-two week low of $0.72 and a fifty-two week high of $6.10. The stock has a market capitalization of $187.81 million, a price-to-earnings ratio of -4.11 and a beta of 1.20.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Wednesday, May 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.34). On average, equities research analysts forecast that Rezolute will post -1.15 earnings per share for the current year.

Insider Activity

In other Rezolute news, CFO Daron Evans purchased 40,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average price of $4.04 per share, for a total transaction of $161,600.00. Following the purchase, the chief financial officer now directly owns 40,000 shares in the company, valued at $161,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders purchased 57,124 shares of company stock worth $220,314. Corporate insiders own 20.80% of the company’s stock.

Institutional Trading of Rezolute

A number of large investors have recently bought and sold shares of the business. Federated Hermes Inc. raised its position in Rezolute by 53.6% during the 4th quarter. Federated Hermes Inc. now owns 10,154,327 shares of the company’s stock worth $10,083,000 after buying an additional 3,544,053 shares during the last quarter. Vivo Capital LLC raised its position in Rezolute by 569.4% during the 4th quarter. Vivo Capital LLC now owns 3,242,842 shares of the company’s stock worth $3,219,000 after buying an additional 2,758,403 shares during the last quarter. Rosalind Advisors Inc. purchased a new position in Rezolute during the 1st quarter worth $510,000. Vanguard Group Inc. raised its position in Rezolute by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock worth $3,961,000 after buying an additional 145,700 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Rezolute during the 1st quarter worth $229,000. 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.