HC Wainwright Reiterates “Buy” Rating for Rezolute (NASDAQ:RZLT)

HC Wainwright reaffirmed their buy rating on shares of Rezolute (NASDAQ:RZLT) in a report published on Friday morning, Benzinga reports. They currently have a $14.00 price objective on the stock.

A number of other equities analysts have also issued reports on RZLT. JMP Securities reissued a market outperform rating and issued a $7.00 price objective on shares of Rezolute in a report on Friday, September 20th. Maxim Group increased their target price on shares of Rezolute from $8.00 to $10.00 and gave the stock a buy rating in a research report on Tuesday, August 6th. Craig Hallum assumed coverage on Rezolute in a research note on Tuesday, June 4th. They issued a buy rating and a $14.00 price objective on the stock. BTIG Research lifted their target price on Rezolute from $13.00 to $15.00 and gave the stock a buy rating in a research report on Tuesday, September 10th. Finally, Guggenheim initiated coverage on Rezolute in a report on Tuesday, August 27th. They set a buy rating and a $11.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rezolute presently has a consensus rating of Buy and a consensus price target of $11.57.

Rezolute Stock Performance

NASDAQ:RZLT opened at $4.85 on Friday. Rezolute has a one year low of $0.72 and a one year high of $6.10. The business’s 50-day simple moving average is $4.65 and its 200 day simple moving average is $3.87. The stock has a market cap of $194.65 million, a price-to-earnings ratio of -4.25 and a beta of 1.18.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings data on Thursday, September 19th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.14). On average, equities research analysts predict that Rezolute will post -1.38 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RZLT. Virtu Financial LLC bought a new position in Rezolute in the 1st quarter worth approximately $37,000. Jeppson Wealth Management LLC acquired a new position in shares of Rezolute during the 2nd quarter worth about $45,000. XTX Topco Ltd boosted its stake in shares of Rezolute by 205.8% during the 2nd quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock worth $145,000 after buying an additional 22,660 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Rezolute in the 1st quarter valued at about $229,000. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Rezolute by 366.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock valued at $233,000 after purchasing an additional 42,597 shares during the period. Institutional investors 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.