Rezolute (NASDAQ:RZLT) Stock Rating Reaffirmed by HC Wainwright

Rezolute (NASDAQ:RZLT)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report released on Friday, Benzinga reports. They presently have a $14.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 181.12% from the company’s current price.

A number of other research firms have also recently commented on RZLT. Guggenheim began coverage on Rezolute in a report on Tuesday, August 27th. They set a “buy” rating and a $11.00 price target on the stock. Maxim Group increased their price target on Rezolute from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. JMP Securities reissued a “market outperform” rating and issued a $7.00 price objective on shares of Rezolute in a research note on Friday, September 20th. Craig Hallum assumed coverage on Rezolute in a research report on Tuesday, June 4th. They set a “buy” rating and a $14.00 target price on the stock. Finally, BTIG Research increased their price objective on Rezolute from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rezolute has an average rating of “Buy” and an average target price of $11.57.

Rezolute Stock Performance

NASDAQ RZLT opened at $4.98 on Friday. Rezolute has a fifty-two week low of $0.72 and a fifty-two week high of $6.10. The stock has a market cap of $199.87 million, a P/E ratio of -4.37 and a beta of 1.18. The stock has a 50 day simple moving average of $4.64 and a two-hundred day simple moving average of $3.83.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings data on Thursday, September 19th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). Sell-side analysts predict that Rezolute will post -1.38 earnings per share for the current year.

Hedge Funds Weigh In On Rezolute

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jeppson Wealth Management LLC purchased a new position in Rezolute during the second quarter worth about $45,000. Virtu Financial LLC acquired a new stake in shares of Rezolute in the first quarter valued at approximately $37,000. XTX Topco Ltd boosted its position in Rezolute by 205.8% during the second quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock worth $145,000 after acquiring an additional 22,660 shares during the last quarter. 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 acquiring an additional 42,597 shares during the last quarter. Finally, Rosalind Advisors Inc. boosted its position in Rezolute by 25.0% during the second quarter. Rosalind Advisors Inc. now owns 250,000 shares of the company’s stock worth $1,075,000 after acquiring an additional 50,000 shares during 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.