Rezolute, Inc. (NASDAQ:RZLT) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Rezolute has a “Moderate Buy” consensus rating from 12 analysts: eight recommend buying, three suggest holding, and one rates the stock a sell. The average 12-month price target is $9.375, nearly double its $4.66 share price.
• Recent analysts have generally raised their outlooks, with Wedbush increasing its target to $6, Citizens JMP upgrading the stock to “outperform” with an $11 target, and Guggenheim raising its target to $11 with a “buy” rating.
• Institutional investors and hedge funds own 82.97% of Rezolute, while shares have traded between $1.07 and $11.46 over the past year. The company is developing therapies including Phase 2b candidate RZ358 for congenital hyperinsulinism.

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twelve brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $9.3750.

Several research firms have recently weighed in on RZLT. Weiss Ratings restated a "sell (d-)" rating on shares of Rezolute in a research note on Friday, July 17th. Wedbush raised their target price 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. HC Wainwright reiterated a "buy" rating on shares of Rezolute in a report on Thursday, July 30th. Citizens Jmp raised Rezolute from a "market perform" rating to an "outperform" rating and set a $11.00 price target on the stock in a research report on Wednesday, June 3rd. Finally, Guggenheim upped their price objective on Rezolute from $6.00 to $11.00 and gave the company a "buy" rating in a research note on Monday, June 15th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of Rezolute by 5.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,201 shares of the company's stock worth $312,000 after buying an additional 1,567 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Rezolute by 5.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,659 shares of the company's stock valued at $363,000 after buying an additional 2,014 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Rezolute by 8.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,088 shares of the company's stock valued at $107,000 after acquiring an additional 3,630 shares during the period. AlphaCentric Advisors LLC raised its holdings in Rezolute by 6.2% in the 1st quarter. AlphaCentric Advisors LLC now owns 71,227 shares of the company's stock valued at $217,000 after acquiring an additional 4,171 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Rezolute in the 2nd quarter valued at about $25,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Rezolute Trading Down 0.4%

Shares of RZLT opened at $4.66 on Wednesday. The company's fifty day simple moving average is $4.78 and its 200 day simple moving average is $3.81. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46. The company has a market cap of $448.71 million, a price-to-earnings ratio of -5.68 and a beta of 0.58.

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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.

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