BTIG Research Reiterates "Buy" Rating for Rezolute (NASDAQ:RZLT)

Key Points

• BTIG Research has reiterated a "Buy" rating for Rezolute (NASDAQ:RZLT), with a price target of $17.00, indicating a potential upside of 120.49% from its previous close.
• Despite the positive outlook from BTIG, Wall Street Zen has downgraded Rezolute from a "hold" to a "sell" rating, highlighting mixed sentiments among analysts.
• As of the latest data, Rezolute's stock currently has an average consensus rating of "Buy" with a consensus price target of $13.00.

Rezolute (NASDAQ:RZLT - Get Free Report)'s stock had its "buy" rating restated by investment analysts at BTIG Research in a report released on Thursday,Benzinga reports. They currently have a $17.00 target price on the stock. BTIG Research's price target would suggest a potential upside of 120.49% from the company's previous close.

RZLT has been the subject of several other reports. Wall Street Zen downgraded shares of Rezolute from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. HC Wainwright reaffirmed a "buy" rating and issued a $14.00 price target on shares of Rezolute in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $13.00.

Rezolute Price Performance

Shares of RZLT stock opened at $7.71 on Thursday. The company has a market capitalization of $670.77 million, a P/E ratio of -6.70 and a beta of 0.03. The company's 50-day simple moving average is $6.52 and its two-hundred day simple moving average is $4.67. Rezolute has a one year low of $2.21 and a one year high of $8.34.

Rezolute (NASDAQ:RZLT - Get Free Report) last released its quarterly earnings data on Wednesday, September 17th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.03). On average, research analysts expect that Rezolute will post -0.93 EPS for the current fiscal year.

Institutional Trading of Rezolute

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new stake in shares of Rezolute during the second quarter worth about $25,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Rezolute during the second quarter worth about $30,000. Legal & General Group Plc purchased a new stake in shares of Rezolute during the second quarter worth about $32,000. Raymond James Financial Inc. purchased a new stake in shares of Rezolute during the second quarter worth about $46,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Rezolute during the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

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.

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