Rezolute, Inc. (NASDAQ:RZLT) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $24.38.

A number of research analysts have issued reports on RZLT shares. JMP Securities boosted their target price on Rezolute from $8.00 to $9.00 and gave the company a “market outperform” rating in a research note on Thursday. Craig Hallum raised Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Rezolute in a research note on Thursday. Wedbush reiterated an “outperform” rating and issued a $112.00 price target on shares of Rezolute in a report on Monday, November 4th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Rezolute in a research report on Monday, February 10th.

Rezolute Price Performance

Shares of RZLT stock opened at $4.61 on Friday. The stock has a 50-day moving average of $4.86 and a 200-day moving average of $4.90. Rezolute has a one year low of $1.13 and a one year high of $6.19. The stock has a market cap of $279.07 million, a PE ratio of -3.63 and a beta of 1.10.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. As a group, research analysts anticipate that Rezolute will post -0.99 earnings per share for the current year.

Insider Activity at Rezolute

In other news, CFO Daron Evans bought 10,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the acquisition, the chief financial officer now owns 150,900 shares in the company, valued at approximately $647,361. This represents a 7.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Rezolute by 39.0% in the 3rd quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock valued at $2,385,000 after purchasing an additional 137,905 shares during the last quarter. MML Investors Services LLC bought a new stake in Rezolute in the 3rd quarter valued at $57,000. JPMorgan Chase & Co. bought a new position in Rezolute during the third quarter worth $42,000. State Street Corp boosted its holdings in shares of Rezolute by 11.6% during the 3rd quarter. State Street Corp now owns 125,472 shares of the company’s stock worth $609,000 after buying an additional 13,000 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in Rezolute by 366.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock valued at $233,000 after buying an additional 42,597 shares during the last quarter. 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.