Rezolute's (RZLT) "Buy" Rating Reaffirmed at Guggenheim

Key Points

• Guggenheim reiterated a "buy" rating on Rezolute (RZLT) with a target price of $15.00, indicating a potential upside of 87.55% from the stock's previous close.
• Other brokerages have also expressed positive ratings, with HC Wainwright and BTIG Research setting price targets of $14.00 and $17.00 respectively.
• Rezolute's recent quarterly earnings missed expectations, reporting a loss of ($0.26) EPS, against the consensus of ($0.23) EPS.

Guggenheim reaffirmed their buy rating on shares of Rezolute (NASDAQ:RZLT - Free Report) in a research note released on Monday morning,Benzinga reports. They currently have a $15.00 price objective on the stock.

Several other equities research analysts have also commented on RZLT. BTIG Research reissued a "buy" rating and set a $17.00 price target on shares of Rezolute in a research note on Thursday. HC Wainwright reaffirmed a "buy" rating and issued a $14.00 target price on shares of Rezolute in a research note on Wednesday, September 3rd. Maxim Group upped their target price on Rezolute from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Wedbush reaffirmed an "outperform" rating and issued a $12.00 target price on shares of Rezolute in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $14.50.

Rezolute Trading Up 5.7%

Shares of NASDAQ:RZLT traded up $0.44 during trading on Monday, hitting $8.14. 1,082,567 shares of the stock were exchanged, compared to its average volume of 1,179,967. The company has a fifty day moving average price of $6.68 and a two-hundred day moving average price of $4.77. The company has a market cap of $739.19 million, a PE ratio of -8.39 and a beta of 0.02. Rezolute has a 12-month low of $2.21 and a 12-month high of $8.81.

Rezolute (NASDAQ:RZLT - Get Free Report) last announced 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). Equities research analysts anticipate that Rezolute will post -0.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Man Group plc purchased a new position in shares of Rezolute during the 4th quarter worth $425,000. Cubist Systematic Strategies LLC increased its holdings in shares of Rezolute by 335.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 210,581 shares of the company's stock worth $611,000 after buying an additional 162,216 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Rezolute by 9.0% during the 1st quarter. Acadian Asset Management LLC now owns 605,042 shares of the company's stock worth $1,752,000 after buying an additional 50,163 shares during the last quarter. OMERS ADMINISTRATION Corp increased its holdings in shares of Rezolute by 56.4% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 118,900 shares of the company's stock worth $345,000 after buying an additional 42,900 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Rezolute during the 1st quarter worth $95,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

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.