Rezolute's (RZLT) Outperform Rating Reaffirmed at Wedbush

Key Points

• Wedbush has reaffirmed an "outperform" rating for Rezolute (RZLT) with a target price of $12.00, implying a potential upside of 61.51% from its previous close.
• While Wedbush maintains a positive outlook, Wall Street Zen downgraded Rezolute to a "sell" rating, contrasting with other analysts who have issued buy ratings and higher target prices.
• Rezolute's shares have recently traded at $7.43 with a market cap of $646.41 million, and the company reported a quarterly earnings miss, posting an EPS of ($0.26).

Rezolute (NASDAQ:RZLT - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Wedbush in a note issued to investors on Thursday,RTT News reports. They currently have a $12.00 target price on the stock. Wedbush's price target indicates a potential upside of 61.51% from the company's previous close.

Other analysts also recently issued research reports about the company. Wall Street Zen downgraded Rezolute from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. HC Wainwright restated a "buy" rating and set a $14.00 target price on shares of Rezolute in a research note on Wednesday, September 3rd. Finally, BTIG Research restated a "buy" rating and set a $17.00 target price on shares of Rezolute in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to MarketBeat, Rezolute has a consensus rating of "Buy" and an average target price of $13.00.

Rezolute Stock Performance

Shares of RZLT traded down $0.28 during trading hours on Thursday, hitting $7.43. 249,983 shares of the company were exchanged, compared to its average volume of 920,133. The company has a market cap of $646.41 million, a PE ratio of -6.48 and a beta of 0.03. The firm's 50 day moving average is $6.52 and its 200-day moving average is $4.67. Rezolute has a 52 week low of $2.21 and a 52 week high of $8.34.

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

Hedge Funds Weigh In On Rezolute

Several hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its holdings in Rezolute by 24.4% in the second 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 last quarter. Marshall Wace LLP boosted its holdings in Rezolute by 56.4% in the second quarter. Marshall Wace LLP now owns 2,886,481 shares of the company's stock valued at $12,874,000 after acquiring an additional 1,041,234 shares during the last quarter. Nantahala Capital Management LLC boosted its position in shares of Rezolute by 77.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 2,291,395 shares of the company's stock worth $10,220,000 after purchasing an additional 1,000,000 shares during the last quarter. Affinity Asset Advisors LLC boosted its position in shares of Rezolute by 29.4% in the 2nd quarter. Affinity Asset Advisors LLC now owns 2,200,000 shares of the company's stock worth $9,812,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Rosalind Advisors Inc. bought a new position in shares of Rezolute in the 2nd quarter worth $7,766,000. 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.

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