Rezolute, Inc. (NASDAQ:RZLT) Receives $8.75 Consensus Target Price from Analysts

Rezolute, Inc. (NASDAQ:RZLT) has earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $8.75.

A number of equities analysts have issued reports on RZLT shares. BTIG Research upped their target price on Rezolute from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Maxim Group upped their target price on Rezolute from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Rezolute in a research report on Tuesday, June 2nd. Citizens Jmp raised Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 target price on the stock in a research report on Wednesday, June 3rd. Finally, Wedbush boosted their price target on Rezolute from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd.

Institutional Investors Weigh In On Rezolute

A number of institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund increased its holdings in shares of Rezolute by 5.6% in the 3rd quarter. New York State Common Retirement Fund now owns 24,600 shares of the company’s stock valued at $231,000 after acquiring an additional 1,300 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Rezolute by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,201 shares of the company’s stock valued at $312,000 after acquiring an additional 1,567 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Rezolute by 5.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,659 shares of the company’s stock valued at $363,000 after acquiring an additional 2,014 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Rezolute by 8.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,088 shares of the company’s stock valued at $107,000 after acquiring an additional 3,630 shares during the last quarter. Finally, AlphaCentric Advisors LLC increased its holdings in shares of Rezolute by 6.2% in the 1st quarter. AlphaCentric Advisors LLC now owns 71,227 shares of the company’s stock valued at $217,000 after acquiring an additional 4,171 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Rezolute Stock Down 4.4%

Shares of RZLT opened at $3.90 on Friday. The business’s 50 day moving average is $3.40 and its two-hundred day moving average is $3.76. Rezolute has a 52-week low of $1.07 and a 52-week high of $11.46. The firm has a market cap of $375.53 million, a price-to-earnings ratio of -4.76 and a beta of 0.68.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Tuesday, May 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. On average, equities analysts expect that Rezolute will post -0.69 earnings per share for the current fiscal year.

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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.