Rezolute (NASDAQ:RZLT) Cut to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded Rezolute from “hold” to “strong sell,” even though other analysts remain more optimistic on the stock.
• The broader analyst view is still mixed-to-bullish: 8 analysts rate RZLT a Buy, with a consensus rating of Moderate Buy and an average target price of $9.38.
• Rezolute recently reported a smaller-than-expected quarterly loss of ($0.16) EPS versus estimates for ($0.17), while its lead drug candidate RZ358 is in Phase 2b testing for congenital hyperinsulinism.

Rezolute (NASDAQ:RZLT - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research firms also recently commented on RZLT. BTIG Research lifted their price objective on Rezolute from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. HC Wainwright restated a "buy" rating and set a $5.00 target price on shares of Rezolute in a research note on Tuesday, June 2nd. Citizens Jmp raised shares of Rezolute from a "market perform" rating to an "outperform" rating and set a $11.00 price target on the stock in a report on Wednesday, June 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rezolute in a report on Tuesday, April 21st. Finally, Guggenheim lifted their price target on shares of Rezolute from $6.00 to $11.00 and gave the stock a "buy" rating in a research note on Monday, June 15th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.38.

Rezolute Trading Up 5.5%

Shares of RZLT opened at $4.61 on Thursday. The company has a market cap of $443.90 million, a price-to-earnings ratio of -5.62 and a beta of 0.54. The business's fifty day simple moving average is $4.23 and its two-hundred day simple moving average is $3.47. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46.

Rezolute (NASDAQ:RZLT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. As a group, research analysts forecast that Rezolute will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RZLT. BNP Paribas Financial Markets purchased a new position in shares of Rezolute during the 2nd quarter worth $25,000. ExodusPoint Capital Management LP bought a new position in Rezolute in the 4th quarter worth $25,000. HB Wealth Management LLC purchased a new position in Rezolute during the fourth quarter valued at $26,000. Fifth Third Wealth Advisors LLC purchased a new position in Rezolute during the fourth quarter valued at $29,000. Finally, Hsbc Holdings PLC purchased a new position in Rezolute during the fourth quarter valued at $29,000. 82.97% of the stock is currently owned by institutional investors.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.