JMP Securities Forecasts Strong Price Appreciation for Rezolute (NASDAQ:RZLT) Stock

Rezolute (NASDAQ:RZLT) had its target price increased by equities research analysts at JMP Securities from $8.00 to $9.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price objective would indicate a potential upside of 95.23% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. HC Wainwright reissued a “buy” rating and issued a $14.00 target price on shares of Rezolute in a research report on Wednesday, February 5th. Guggenheim reaffirmed a “buy” rating on shares of Rezolute in a research report on Monday, February 10th. Wedbush reaffirmed an “outperform” rating and set a $112.00 price target on shares of Rezolute in a research report on Monday, November 4th. Finally, Craig Hallum raised Rezolute to a “strong-buy” rating in a research report on Tuesday, February 4th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $24.38.

Rezolute Stock Performance

Shares of Rezolute stock opened at $4.61 on Thursday. The business’s 50 day simple moving average is $4.87 and its 200 day simple moving average is $4.90. Rezolute has a 52-week low of $1.13 and a 52-week high of $6.19. The firm has a market cap of $267.10 million, a PE ratio of -3.63 and a beta of 1.10.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.11. As a group, equities research analysts predict that Rezolute will post -0.99 EPS for the current year.

Insider Transactions at Rezolute

In other Rezolute news, CFO Daron Evans bought 10,000 shares of Rezolute stock in a transaction dated Wednesday, December 18th. The stock was bought at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the purchase, the chief financial officer now owns 150,900 shares of the company’s stock, valued at $647,361. The trade was a 7.10 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Rezolute

Several institutional investors have recently added to or reduced their stakes in RZLT. Adage Capital Partners GP L.L.C. boosted its stake in Rezolute by 699.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company’s stock valued at $12,377,000 after purchasing an additional 2,210,038 shares during the period. Susquehanna International Group LLP boosted its stake in Rezolute by 749.0% in the 4th quarter. Susquehanna International Group LLP now owns 893,601 shares of the company’s stock valued at $4,379,000 after purchasing an additional 788,349 shares during the period. Walleye Capital LLC bought a new stake in Rezolute in the 4th quarter valued at $2,408,000. Nantahala Capital Management LLC boosted its stake in Rezolute by 10.9% in the 4th quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company’s stock valued at $14,004,000 after purchasing an additional 280,861 shares during the period. Finally, Geode Capital Management LLC boosted its stake in 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 during the period. 82.97% of the stock is currently owned by institutional investors.

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.