Rezolute (NASDAQ:RZLT) Reaches New 52-Week High - Still a Buy?

Key Points

• Rezolute's stock price reached a new 52-week high of $9.02, with a trading volume of over 1.6 million shares, closing at $8.81.
• Various analysts have issued positive ratings for Rezolute, with price targets ranging from $12.00 to $20.00 and an overall average target of $14.50.
• Despite the positive ratings, Rezolute reported a loss of ($0.26) earnings per share, missing expectations for the quarter, as the company continues developing its lead product candidate for a rare pediatric disorder.

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $9.02 and last traded at $8.81, with a volume of 1628552 shares traded. The stock had previously closed at $8.52.

Wall Street Analyst Weigh In

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

Rezolute Stock Performance

The stock has a fifty day simple moving average of $6.82 and a two-hundred day simple moving average of $4.82. The stock has a market cap of $800.04 million, a price-to-earnings ratio of -9.08 and a beta of 0.03.

Rezolute (NASDAQ:RZLT - Get Free Report) last released its quarterly earnings data on Wednesday, September 17th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.03). Equities analysts expect that Rezolute, Inc. will post -0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rezolute

A number of hedge funds have recently made changes to their positions in the stock. Rosalind Advisors Inc. acquired a new stake in shares of Rezolute in the 2nd quarter valued at approximately $7,766,000. Opaleye Management Inc. boosted its position in Rezolute by 94.3% in the second quarter. Opaleye Management Inc. now owns 903,442 shares of the company's stock valued at $4,029,000 after buying an additional 438,442 shares in the last quarter. Massar Capital Management LP acquired a new stake in shares of Rezolute during the 2nd quarter valued at $126,000. BNP Paribas Financial Markets acquired a new stake in shares of Rezolute during the 2nd quarter valued at $25,000. Finally, Boothbay Fund Management LLC boosted its holdings in shares of Rezolute by 1,745.6% during the 2nd quarter. Boothbay Fund Management LLC now owns 266,671 shares of the company's stock valued at $1,189,000 after acquiring an additional 252,222 shares in the last quarter. 82.97% of the stock is currently 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.

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