Rezolute's (RZLT) "Buy" Rating Reiterated at BTIG Research

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.

BTIG Research reaffirmed their buy rating on shares of Rezolute (NASDAQ:RZLT - Free Report) in a research report report published on Thursday morning,Benzinga reports. They currently have a $17.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. HC Wainwright reiterated a "buy" rating and set a $14.00 price objective on shares of Rezolute in a report on Wednesday, September 3rd. Wall Street Zen cut Rezolute from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat.com, Rezolute presently has a consensus rating of "Buy" and an average price target of $14.50.

Rezolute Price Performance

Shares of Rezolute stock traded up $0.30 during trading on Thursday, hitting $8.00. 532,226 shares of the company were exchanged, compared to its average volume of 954,445. The firm has a market capitalization of $726.31 million, a P/E ratio of -8.24 and a beta of 0.03. Rezolute has a 1-year low of $2.21 and a 1-year high of $8.81. The firm's fifty day moving average price is $6.62 and its 200 day moving average price is $4.74.

Rezolute (NASDAQ:RZLT - Get Free Report) last posted its earnings results on Wednesday, September 17th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.03). As a group, equities research analysts anticipate that Rezolute will post -0.93 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rosalind Advisors Inc. acquired a new position in Rezolute in the second quarter valued at about $7,766,000. Opaleye Management Inc. raised its stake in Rezolute by 94.3% in the second quarter. Opaleye Management Inc. now owns 903,442 shares of the company's stock valued at $4,029,000 after purchasing an additional 438,442 shares in the last quarter. Massar Capital Management LP acquired a new position in Rezolute in the second quarter valued at about $126,000. BNP Paribas Financial Markets acquired a new position in Rezolute in the second quarter valued at about $25,000. Finally, Boothbay Fund Management LLC lifted its position in shares of Rezolute by 1,745.6% during the 2nd quarter. Boothbay Fund Management LLC now owns 266,671 shares of the company's stock worth $1,189,000 after buying an additional 252,222 shares during the last quarter. 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.