Analysts Set Rezolute, Inc. (NASDAQ:RZLT) PT at $26.43

Shares of Rezolute, Inc. (NASDAQ:RZLT) have received a consensus recommendation of “Buy” from the seven research firms that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $26.43.

RZLT has been the topic of a number of research reports. Craig Hallum upgraded shares of Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Rezolute in a report on Monday. JMP Securities boosted their target price on shares of Rezolute from $8.00 to $9.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Finally, Guggenheim restated a “buy” rating on shares of Rezolute in a report on Monday, February 10th.

Rezolute Stock Up 5.3 %

Shares of RZLT stock opened at $3.96 on Friday. The stock has a fifty day moving average of $3.30 and a 200 day moving average of $4.42. Rezolute has a 52 week low of $2.22 and a 52 week high of $6.19. The firm has a market capitalization of $239.72 million, a price-to-earnings ratio of -3.25 and a beta of 0.97.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. Equities research analysts anticipate that Rezolute will post -0.93 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Wladimir Hogenhuis purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the purchase, the director now directly owns 77,267 shares in the company, valued at approximately $363,154.90. This trade represents a 14.87 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nevan C. Elam purchased 12,302 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average price of $2.85 per share, for a total transaction of $35,060.70. Following the purchase, the chief executive officer now owns 224,119 shares in the company, valued at $638,739.15. This represents a 5.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 39,060 shares of company stock worth $130,694 in the last quarter. Corporate insiders own 18.39% of the company’s stock.

Hedge Funds Weigh In On Rezolute

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in Rezolute by 39.0% during the 3rd quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock valued at $2,385,000 after acquiring an additional 137,905 shares during the period. MML Investors Services LLC bought a new position in Rezolute during the 3rd quarter valued at about $57,000. JPMorgan Chase & Co. bought a new position in Rezolute during the 3rd quarter valued at about $42,000. State Street Corp lifted its stake in Rezolute by 11.6% during the 3rd quarter. State Street Corp now owns 125,472 shares of the company’s stock valued at $609,000 after acquiring an additional 13,000 shares during the period. Finally, Exome Asset Management LLC lifted its stake in Rezolute by 24.7% during the 3rd quarter. Exome Asset Management LLC now owns 352,056 shares of the company’s stock valued at $1,707,000 after acquiring an additional 69,656 shares during the period. Institutional investors 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.