Rezolute (NASDAQ:RZLT) Stock Price Target Raised at Citizens Jmp

Key Points

• Citizens JMP raised Rezolute’s price target to $15 from $11 while maintaining a “market outperform” rating, implying 246.42% upside from the prior close.
• Analyst sentiment is broadly positive, with 12 Buy ratings, one Hold, and one Sell; the consensus rating is “Moderate Buy” with an average price target of $10.89.
• Rezolute reported a quarterly loss of $0.20 per share, worse than the expected $0.15 loss. The clinical-stage biotechnology company is developing RZ358 for congenital hyperinsulinism and other metabolic diseases.

Rezolute (NASDAQ:RZLT - Get Free Report) had its price target upped by investment analysts at Citizens Jmp from $11.00 to $15.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a "market outperform" rating on the stock. Citizens Jmp's target price would suggest a potential upside of 246.42% from the stock's previous close.

A number of other equities analysts have also issued reports on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rezolute in a research report on Friday, July 17th. HC Wainwright raised their price target on shares of Rezolute from $5.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, September 25th. HSBC upgraded shares of Rezolute to a "buy" rating in a research note on Friday, September 25th. Zacks Research raised shares of Rezolute from a "strong sell" rating to a "hold" rating in a report on Friday, August 14th. Finally, Wall Street Zen downgraded shares of Rezolute from a "hold" rating to a "sell" rating in a research note on Tuesday, June 30th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Rezolute currently has a consensus rating of "Moderate Buy" and an average price target of $10.89.

Rezolute Stock Performance

Shares of NASDAQ RZLT opened at $4.33 on Tuesday. Rezolute has a 1 year low of $1.07 and a 1 year high of $11.46. The stock's 50-day simple moving average is $4.48 and its 200-day simple moving average is $4.08. The firm has a market cap of $418.81 million, a price-to-earnings ratio of -5.70 and a beta of 0.53.

Rezolute (NASDAQ:RZLT - Get Free Report) last issued its quarterly earnings results on Thursday, September 24th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.05). As a group, research analysts predict that Rezolute will post -0.6 EPS for the current year.

Institutional Investors Weigh In On Rezolute

A number of institutional investors have recently made changes to their positions in the company. Jennison Associates LLC bought a new position in Rezolute during the first quarter worth $10,489,000. Siren L.L.C. acquired a new stake in shares of Rezolute during the first quarter worth $10,151,000. Dimensional Fund Advisors LP raised its holdings in shares of Rezolute by 273.7% during the first quarter. Dimensional Fund Advisors LP now owns 530,229 shares of the company's stock worth $1,617,000 after purchasing an additional 388,346 shares during the period. Knott David M Jr lifted its position in shares of Rezolute by 8.8% in the 1st quarter. Knott David M Jr now owns 370,000 shares of the company's stock worth $1,128,000 after buying an additional 30,000 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Rezolute in the 2nd quarter valued at about $1,104,000. 82.97% of the stock is currently owned by institutional investors.

Rezolute Company Profile

Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for metabolic diseases. The company's research is centered on conditions involving abnormal insulin signaling and glucose regulation, including rare disorders and complications associated with diabetes.

Rezolute's lead investigational product is RZ358, a human monoclonal antibody designed to reduce the effects of excessive insulin activity. The therapy is being developed primarily for congenital hyperinsulinism, a rare disorder in which the pancreas releases too much insulin and causes potentially dangerous episodes of low blood sugar.

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