Analysts Set Rezolute, Inc. (NASDAQ:RZLT) Price Target at $24.13

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been assigned a consensus rating of “Buy” from the eight analysts that are covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $24.13.

Several equities analysts have commented on the company. Guggenheim started coverage on Rezolute in a report on Tuesday, August 27th. They set a “buy” rating and a $11.00 price target on the stock. JMP Securities reiterated a “market outperform” rating and issued a $7.00 target price on shares of Rezolute in a report on Friday, September 20th. Wedbush reissued an “outperform” rating and set a $112.00 target price on shares of Rezolute in a research report on Monday, November 4th. Maxim Group raised their price target on Rezolute from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research note on Friday, November 8th.

Rezolute Stock Up 1.0 %

Shares of RZLT opened at $5.04 on Tuesday. Rezolute has a 12 month low of $0.72 and a 12 month high of $6.19. The company’s fifty day moving average is $5.12 and its 200-day moving average is $4.64. The firm has a market cap of $292.02 million, a price-to-earnings ratio of -3.97 and a beta of 1.18.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Thursday, September 19th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). As a group, research analysts predict that Rezolute will post -0.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rezolute

Institutional investors have recently added to or reduced their stakes in the company. Jeppson Wealth Management LLC acquired a new position in shares of Rezolute in the 2nd quarter valued at $45,000. MML Investors Services LLC bought a new stake in Rezolute in the third quarter valued at about $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Rezolute in the third quarter worth about $65,000. Virtu Financial LLC bought a new position in Rezolute during the first quarter worth about $37,000. Finally, XTX Topco Ltd boosted its holdings in Rezolute by 205.8% during the second quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock valued at $145,000 after purchasing an additional 22,660 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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.