Craig Hallum Upgrades Rezolute (NASDAQ:RZLT) to Strong-Buy

Rezolute (NASDAQ:RZLT) was upgraded by analysts at Craig Hallum to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also weighed in on the company. Wedbush restated an “outperform” rating and issued a $112.00 target price on shares of Rezolute in a report on Monday, November 4th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Rezolute in a report on Wednesday. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rezolute presently has a consensus rating of “Buy” and an average target price of $24.13.

Rezolute Stock Up 1.3 %

RZLT stock opened at $5.57 on Tuesday. The firm has a 50 day moving average of $4.89 and a two-hundred day moving average of $4.88. Rezolute has a 12 month low of $0.93 and a 12 month high of $6.19. The company has a market capitalization of $322.73 million, a price-to-earnings ratio of -4.39 and a beta of 1.10.

Rezolute (NASDAQ:RZLT) last posted its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.13. On average, research analysts expect that Rezolute will post -0.99 EPS for the current fiscal year.

Insider Activity at Rezolute

In other news, CFO Daron Evans bought 9,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $4.60 per share, for a total transaction of $41,400.00. Following the completion of the purchase, the chief financial officer now owns 140,900 shares of the company’s stock, valued at $648,140. This trade represents a 6.82 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 18.39% of the company’s stock.

Institutional Investors Weigh In On Rezolute

A number of institutional investors have recently bought and sold shares of RZLT. Geode Capital Management LLC boosted its stake in shares of Rezolute by 39.0% in the 3rd quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock valued at $2,385,000 after purchasing an additional 137,905 shares in the last quarter. Exome Asset Management LLC lifted its position in Rezolute by 24.7% during the 3rd quarter. Exome Asset Management LLC now owns 352,056 shares of the company’s stock valued at $1,707,000 after purchasing an additional 69,656 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Rezolute during the 2nd quarter worth $255,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Rezolute during the 3rd quarter valued at $239,000. Finally, Cubist Systematic Strategies LLC lifted its stake 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 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.