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

Shares of Rezolute, Inc. (NASDAQ:RZLT) have earned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $8.75.

Several research analysts recently commented on RZLT shares. BTIG Research raised 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, June 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Rezolute in a report on Tuesday, April 21st. HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Rezolute in a report on Tuesday, June 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Rezolute in a research report on Wednesday, June 3rd. Finally, Wall Street Zen raised shares of Rezolute from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th.

Rezolute Stock Performance

NASDAQ RZLT opened at $3.86 on Friday. Rezolute has a one year low of $1.07 and a one year high of $11.46. The company’s 50 day moving average price is $3.44 and its 200 day moving average price is $3.68. The firm has a market capitalization of $371.68 million, a price-to-earnings ratio of -4.71 and a beta of 0.68.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.01. Sell-side analysts forecast that Rezolute will post -0.69 EPS for the current fiscal year.

Institutional Trading of Rezolute

Several large investors have recently bought and sold shares of RZLT. RA Capital Management L.P. acquired a new stake in shares of Rezolute during the fourth quarter worth approximately $21,665,000. Opaleye Management Inc. lifted its stake in 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 last quarter. Jennison Associates LLC bought a new stake in Rezolute in the first quarter valued at $10,489,000. Siren L.L.C. bought a new stake in Rezolute in the first quarter valued at $10,151,000. Finally, Balyasny Asset Management L.P. lifted its stake in 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 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.