Rezolute’s (RZLT) Outperform Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Rezolute (NASDAQ:RZLT) in a research report sent to investors on Monday, Marketbeat.com reports. They currently have a $112.00 target price on the stock.

A number of other brokerages have also issued reports on RZLT. Maxim Group raised their target price on Rezolute from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. JMP Securities restated a “market outperform” rating and issued a $7.00 price objective on shares of Rezolute in a research note on Friday, September 20th. BTIG Research upped their target price on Rezolute from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Guggenheim initiated coverage on shares of Rezolute in a research report on Tuesday, August 27th. They set a “buy” rating and a $11.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a report on Friday, September 27th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $24.13.

Rezolute Stock Performance

Shares of NASDAQ RZLT opened at $5.81 on Monday. Rezolute has a fifty-two week low of $0.72 and a fifty-two week high of $6.10. The company has a market cap of $324.94 million, a PE ratio of -4.37 and a beta of 1.18. The business has a 50-day simple moving average of $5.01 and a two-hundred day simple moving average of $4.36.

Rezolute (NASDAQ:RZLT) last released its earnings results on Thursday, September 19th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). On average, sell-side analysts predict that Rezolute will post -1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rezolute

A number of hedge funds and other institutional investors have recently made changes to their positions in RZLT. Virtu Financial LLC purchased a new stake in Rezolute during the first quarter worth $37,000. Jeppson Wealth Management LLC purchased a new stake in shares of Rezolute during the 2nd quarter worth about $45,000. XTX Topco Ltd grew its position in shares of Rezolute by 205.8% during the 2nd quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock valued at $145,000 after acquiring an additional 22,660 shares during the period. Acadian Asset Management LLC acquired a new position in Rezolute in the 1st quarter worth about $229,000. Finally, Cubist Systematic Strategies LLC boosted its position in Rezolute by 366.0% during the second quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock worth $233,000 after purchasing an additional 42,597 shares in the last quarter. Institutional investors and hedge funds 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.