Wedbush Reaffirms Outperform Rating for Rezolute (NASDAQ:RZLT)

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).

Wedbush reiterated their outperform rating on shares of Rezolute (NASDAQ:RZLT - Free Report) in a report published on Thursday morning,RTT News reports. The brokerage currently has a $12.00 target price on the stock.

A number of other brokerages also recently commented on RZLT. HC Wainwright reissued a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a research note on Wednesday, September 3rd. BTIG Research reiterated a "buy" rating and issued a $17.00 price objective on shares of Rezolute in a research report on Thursday. Finally, Wall Street Zen downgraded shares of Rezolute from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $14.50.

Rezolute Stock Performance

Shares of NASDAQ RZLT traded up $0.30 during midday trading on Thursday, hitting $8.00. 532,226 shares of the stock traded hands, compared to its average volume of 954,445. Rezolute has a one year low of $2.21 and a one year high of $8.81. The firm has a 50-day moving average of $6.62 and a two-hundred day moving average of $4.74. The firm has a market capitalization of $726.49 million, a P/E ratio of -8.24 and a beta of 0.03.

Rezolute (NASDAQ:RZLT - Get Free Report) last issued its quarterly 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). Equities analysts forecast that Rezolute will post -0.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RZLT. BNP Paribas Financial Markets purchased a new stake in shares of Rezolute during the second quarter worth about $25,000. Ameritas Investment Partners Inc. bought a new position in shares of Rezolute in the second quarter valued at $30,000. Legal & General Group Plc bought a new position in shares of Rezolute in the second quarter valued at $32,000. Jeppson Wealth Management LLC bought a new position in shares of Rezolute in the first quarter valued at $35,000. Finally, Raymond James Financial Inc. bought a new position in shares of Rezolute in the second quarter valued at $46,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.