Rezolute (NASDAQ:RZLT) Sets New 12-Month High - What's Next?

Key Points

• Rezolute's share price reached a new 52-week high of $8.50, indicating strong trading activity and investor interest.
• Wall Street analysts remain optimistic, with several maintaining a "buy" rating and setting price targets ranging from $12.00 to $17.00.
• Despite missing earnings expectations with a reported EPS of ($0.26), the overall consensus rating for Rezolute is "Buy," with major institutional investors holding nearly 83% of the stock.

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $8.44 and last traded at $8.50, with a volume of 10383 shares. The stock had previously closed at $8.20.

Analysts Set New Price Targets

Several brokerages have weighed in on RZLT. Guggenheim restated a "buy" rating and set a $15.00 price target on shares of Rezolute in a report on Monday. Wedbush reiterated an "outperform" rating and issued a $12.00 price objective on shares of Rezolute in a report on Thursday, September 18th. Maxim Group increased their price objective on Rezolute from $15.00 to $20.00 and gave the company a "buy" rating in a report on Thursday. BTIG Research reiterated a "buy" rating and issued a $17.00 price objective on shares of Rezolute in a report on Thursday, September 18th. Finally, HC Wainwright reiterated a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Rezolute has an average rating of "Buy" and a consensus target price of $14.50.

Rezolute Stock Performance

The stock has a market capitalization of $771.43 million, a price-to-earnings ratio of -8.73 and a beta of 0.02. The business has a 50-day moving average of $6.68 and a 200-day moving average of $4.77.

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

Institutional Trading of Rezolute

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new stake in shares of Rezolute in the 2nd quarter valued at about $25,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Rezolute in the 2nd quarter valued at about $30,000. Legal & General Group Plc acquired a new stake in shares of Rezolute in the 2nd quarter valued at about $32,000. Raymond James Financial Inc. acquired a new stake in shares of Rezolute in the 2nd quarter valued at about $46,000. Finally, Jeppson Wealth Management LLC acquired a new stake in shares of Rezolute in the 1st quarter valued at about $35,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.