Rezolute, Inc. (NASDAQ:RZLT) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Rezolute, Inc. has received an average consensus recommendation of "Buy" from seven analysts, with a 12-month price target averaging $14.50.
• Several analysts have assigned varying price targets, with Maxim Group having the highest at $20.00, while BTIG and others maintain targets between $12.00 and $17.00.
• Institutional investors own 82.97% of Rezolute's stock, indicating strong institutional confidence in the company.

Shares of Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) have earned a consensus recommendation of "Buy" from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $14.50.

Several research firms have recently issued reports on RZLT. BTIG Research reissued a "buy" rating and issued a $17.00 price target on shares of Rezolute in a research note on Thursday, September 18th. Wedbush restated an "outperform" rating and set a $12.00 price objective on shares of Rezolute in a research note on Thursday, September 18th. Guggenheim reaffirmed a "buy" rating and set a $15.00 price target on shares of Rezolute in a research note on Monday, September 22nd. HC Wainwright reissued a "buy" rating and set a $14.00 price objective on shares of Rezolute in a research note on Wednesday, September 3rd. Finally, Maxim Group upped their price target on Rezolute from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th.

Institutional Trading of Rezolute

Hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. purchased a new stake in shares of Rezolute during the 4th quarter worth $342,000. Jeppson Wealth Management LLC acquired a new stake in shares of Rezolute in the first quarter worth $35,000. XTX Topco Ltd purchased a new position in shares of Rezolute in the first quarter valued at $95,000. American Century Companies Inc. boosted its position in Rezolute by 5.2% during the 1st quarter. American Century Companies Inc. now owns 67,925 shares of the company's stock valued at $197,000 after purchasing an additional 3,334 shares during the period. Finally, Pale Fire Capital SE increased its stake in Rezolute by 9.1% during the 1st quarter. Pale Fire Capital SE now owns 47,122 shares of the company's stock valued at $137,000 after buying an additional 3,935 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Rezolute Stock Performance

RZLT stock opened at $9.34 on Friday. Rezolute has a one year low of $2.21 and a one year high of $9.56. The company has a market capitalization of $848.17 million, a PE ratio of -9.63 and a beta of 0.03. The company's fifty day moving average price is $6.96 and its 200-day moving average price is $4.91.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.