Rezolute (NASDAQ:RZLT) Stock Rating Upgraded by Wedbush

Key Points

• Wedbush upgraded Rezolute (NASDAQ:RZLT) from "neutral" to "outperform" and raised its price target to $5.00 from $2.00, implying roughly an 85.9% upside from the prior close.
• Analyst coverage is mixed — six Buy, four Hold and one Sell — leaving an average rating of "Hold" and an average price target of $8.00.
• The stock trades around $2.69 with a 50‑day/200‑day moving average of $3.12/$5.86, a $257M market cap, and recent earnings that missed estimates alongside a negative EPS outlook (forecast ~‑0.93 for the year).

Rezolute (NASDAQ:RZLT - Get Free Report) was upgraded by equities research analysts at Wedbush from a "neutral" rating to an "outperform" rating in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a $5.00 price target on the stock, up from their prior price target of $2.00. Wedbush's target price indicates a potential upside of 85.87% from the company's previous close.

Several other analysts also recently commented on the company. Guggenheim reduced their price objective on Rezolute from $15.00 to $6.00 and set a "buy" rating for the company in a research note on Friday, December 12th. Craig Hallum lowered Rezolute from a "buy" rating to a "hold" rating and set a $2.00 target price on the stock. in a report on Thursday, December 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Rezolute in a research note on Thursday, January 22nd. Citigroup downgraded Rezolute from an "outperform" rating to a "market perform" rating in a report on Thursday, December 11th. Finally, BTIG Research reiterated a "buy" rating and issued a $5.00 price objective on shares of Rezolute in a research report on Thursday, January 8th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $8.00.

Rezolute Stock Performance

NASDAQ RZLT opened at $2.69 on Wednesday. The firm's fifty day moving average is $3.12 and its two-hundred day moving average is $5.86. Rezolute has a one year low of $1.07 and a one year high of $11.46. The firm has a market cap of $257.43 million, a PE ratio of -2.89 and a beta of 0.51.

Rezolute (NASDAQ:RZLT - Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.06). Research analysts predict that Rezolute will post -0.93 earnings per share for the current year.

Institutional Trading of Rezolute

A number of institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. lifted its position in shares of Rezolute by 24.4% during the 2nd quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company's stock valued at $62,595,000 after acquiring an additional 2,755,385 shares during the period. Stonepine Capital Management LLC purchased a new position in Rezolute in the 2nd quarter valued at approximately $977,000. Mangrove Partners IM LLC increased its stake in Rezolute by 25.4% in the 3rd quarter. Mangrove Partners IM LLC now owns 2,882,149 shares of the company's stock valued at $27,092,000 after purchasing an additional 584,660 shares in the last quarter. 22NW LP acquired a new position in Rezolute during the third quarter worth $7,714,000. Finally, Geode Capital Management LLC boosted its position in Rezolute by 201.7% during the second quarter. Geode Capital Management LLC now owns 1,711,043 shares of the company's stock worth $7,633,000 after purchasing an additional 1,143,834 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

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

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