Rezolute (NASDAQ:RZLT) Given New $10.00 Price Target at HC Wainwright

Key Points

• HC Wainwright raised Rezolute’s price target from $5.00 to $10.00 and maintained a “buy” rating, implying 147.83% upside from the prior close.
• Analyst sentiment is broadly positive: nine analysts rate the stock a Buy, three a Hold and one a Sell, resulting in a consensus “Moderate Buy” rating and a $10.00 average target.
• Rezolute shares traded at $4.04, while the clinical-stage biopharmaceutical company reported a quarterly EPS loss of $0.20, missing the $0.15 consensus estimate.

Rezolute (NASDAQ:RZLT - Get Free Report) had its target price hoisted by analysts at HC Wainwright from $5.00 to $10.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price objective would indicate a potential upside of 147.83% from the company's previous close.

RZLT has been the topic of a number of other reports. Zacks Research raised Rezolute from a "strong sell" rating to a "hold" rating in a report on Friday, August 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Rezolute in a report on Friday, July 17th. HSBC upgraded shares of Rezolute to a "buy" rating in a report on Friday. Wedbush raised their price objective on shares of Rezolute from $5.00 to $6.00 and gave the company an "outperform" rating in a research note on Wednesday, June 3rd. Finally, Wall Street Zen downgraded Rezolute from a "hold" rating to a "sell" rating in a report on Tuesday, June 30th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $10.00.

Rezolute Stock Performance

Shares of Rezolute stock traded up $0.10 during midday trading on Friday, hitting $4.04. 857,589 shares of the company traded hands, compared to its average volume of 2,231,782. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46. The stock has a market cap of $388.53 million, a price-to-earnings ratio of -4.92 and a beta of 0.60. The firm's fifty day moving average price is $4.59 and its 200-day moving average price is $4.02.

Rezolute (NASDAQ:RZLT - Get Free Report) last released its quarterly earnings data on Thursday, September 24th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Equities research analysts forecast that Rezolute will post -0.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RZLT. Jefferies Financial Group Inc. acquired a new stake in shares of Rezolute in the fourth quarter valued at approximately $35,000. Auxano Advisors LLC acquired a new position in Rezolute during the 2nd quarter worth about $52,000. Sequoia Financial Advisors LLC purchased a new stake in Rezolute during the 2nd quarter worth approximately $75,000. WINTON GROUP Ltd acquired a new position in Rezolute during the 2nd quarter worth $88,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Rezolute during the first quarter worth about $90,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Rezolute Company Profile

Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for rare and metabolic diseases. The company's research is centered on therapies that address abnormal insulin activity and other conditions involving disrupted glucose regulation.

Rezolute's leading product candidate is RZ358, an investigational monoclonal antibody designed to reduce the effects of excessive insulin. The therapy is being developed primarily for congenital hyperinsulinism, a rare disorder in which the pancreas produces too much insulin and causes potentially severe, recurrent hypoglycemia.

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