Rezolute, Inc. (NASDAQ:RZLT) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Rezolute, Inc. has received a consensus rating of "Moderate Buy" from eight ratings firms, with an average 12-month target price of $14.50.
• Institutional investors now own 82.97% of Rezolute's stock, with recent additions including Pale Fire Capital and American Century Companies.
• The company's lead product candidate, RZ358, is in a Phase 2b clinical trial for treating congenital hyperinsulinism, highlighting its focus on metabolic diseases.

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $14.50.

RZLT has been the subject of several recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rezolute in a research report on Wednesday, October 8th. Maxim Group raised their price objective on shares of Rezolute from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. Wedbush reissued an "outperform" rating and issued a $12.00 price objective on shares of Rezolute in a research note on Thursday, September 18th. Guggenheim reissued a "buy" rating and issued a $15.00 price objective on shares of Rezolute in a research note on Monday, September 22nd. Finally, BTIG Research reissued a "buy" rating and issued a $17.00 price objective on shares of Rezolute in a research note on Thursday, September 18th.

Institutional Trading of Rezolute

Institutional investors have recently added to or reduced their stakes in the company. Pale Fire Capital SE raised its stake in shares of Rezolute by 4.2% during the second quarter. Pale Fire Capital SE now owns 49,122 shares of the company's stock valued at $219,000 after acquiring an additional 2,000 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Rezolute by 5.2% during the first quarter. American Century Companies Inc. now owns 67,925 shares of the company's stock valued at $197,000 after acquiring an additional 3,334 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Rezolute during the second quarter valued at approximately $25,000. Ameritas Investment Partners Inc. bought a new stake in shares of Rezolute during the second quarter valued at approximately $30,000. Finally, Legal & General Group Plc bought a new stake in shares of Rezolute during the second quarter valued at approximately $32,000. Institutional investors own 82.97% of the company's stock.

Rezolute Trading Up 10.9%

RZLT opened at $9.83 on Thursday. The firm has a market cap of $892.86 million, a P/E ratio of -10.13 and a beta of 0.04. Rezolute has a 12 month low of $2.21 and a 12 month high of $10.04. The stock has a 50-day moving average of $8.04 and a 200 day moving average of $5.62.

Rezolute (NASDAQ:RZLT - Get Free Report) last released its quarterly earnings results 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 forecast that Rezolute will post -0.93 earnings per share for the current fiscal year.

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.

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