Rezolute (NASDAQ:RZLT) Raised to Outperform at Citizens Jmp

Rezolute (NASDAQ:RZLT) was upgraded by Citizens Jmp from a “market perform” rating to an “outperform” rating in a report issued on Wednesday, Marketbeat reports. The firm currently has a $11.00 target price on the stock. Citizens Jmp’s price target would indicate a potential upside of 175.00% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Rezolute in a report on Tuesday, April 21st. Cantor Fitzgerald restated a “neutral” rating on shares of Rezolute in a report on Wednesday. BTIG Research upped their price target on shares of Rezolute from $5.00 to $6.00 and gave the company a “buy” rating in a report on Tuesday. Wedbush upped their price target on shares of Rezolute from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Wall Street Zen upgraded shares of Rezolute from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.75.

Rezolute Price Performance

Rezolute stock opened at $4.00 on Wednesday. The company has a market capitalization of $385.16 million, a price-to-earnings ratio of -4.88 and a beta of 0.68. Rezolute has a one year low of $1.07 and a one year high of $11.46. The company’s fifty day moving average price is $3.24 and its two-hundred day moving average price is $4.01.

Rezolute (NASDAQ:RZLT) last posted its earnings results on Tuesday, May 12th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.01. As a group, sell-side analysts anticipate that Rezolute will post -0.72 earnings per share for the current year.

Institutional Investors Weigh In On Rezolute

Several hedge funds have recently made changes to their positions in RZLT. RA Capital Management L.P. bought a new stake in shares of Rezolute in the fourth quarter valued at about $21,665,000. Opaleye Management Inc. lifted its stake in shares of Rezolute by 595.9% in the fourth quarter. Opaleye Management Inc. now owns 6,287,156 shares of the company’s stock valued at $14,838,000 after buying an additional 5,383,714 shares during the period. Jennison Associates LLC bought a new stake in shares of Rezolute in the first quarter valued at about $10,489,000. Siren L.L.C. bought a new stake in shares of Rezolute in the first quarter valued at 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 valued at $10,636,000 after buying an additional 2,684,133 shares during the period. Institutional investors 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.