Rezolute (NASDAQ:RZLT) Given New $6.00 Price Target at Wedbush

Rezolute (NASDAQ:RZLT) had its target price hoisted by Wedbush from $5.00 to $6.00 in a research note issued on Wednesday, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective indicates a potential upside of 50.00% from the stock’s current price.

RZLT has been the subject of several other research reports. Cantor Fitzgerald reissued a “neutral” rating on shares of Rezolute in a research report on Wednesday. Wall Street Zen raised Rezolute from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rezolute in a research report on Tuesday, April 21st. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Rezolute in a research report on Tuesday. Finally, Maxim Group set a $14.00 price target on Rezolute in a research report on Tuesday. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.75.

Rezolute Price Performance

NASDAQ RZLT opened at $4.00 on Wednesday. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46. The company has a market capitalization of $385.16 million, a P/E ratio of -4.88 and a beta of 0.68. The business has a 50 day moving average price of $3.24 and a 200 day moving average price of $4.01.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. On average, research analysts expect that Rezolute will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RZLT. RA Capital Management L.P. acquired a new position in shares of Rezolute during the fourth quarter worth about $21,665,000. Opaleye Management Inc. lifted its stake in shares of Rezolute by 595.9% during the fourth quarter. Opaleye Management Inc. now owns 6,287,156 shares of the company’s stock worth $14,838,000 after purchasing an additional 5,383,714 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Rezolute during the first quarter worth about $10,489,000. Siren L.L.C. acquired a new position in shares of Rezolute during the first quarter worth about $10,151,000. Finally, Balyasny Asset Management L.P. lifted its stake in shares of Rezolute by 147.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 4,506,861 shares of the company’s stock worth $10,636,000 after acquiring an additional 2,684,133 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

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