JMP Securities Increases Rezolute (NASDAQ:RZLT) Price Target to $9.00

Rezolute (NASDAQ:RZLT) had its target price lifted by JMP Securities from $8.00 to $9.00 in a research report sent to investors on Thursday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. Craig Hallum raised Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Guggenheim reiterated a “buy” rating on shares of Rezolute in a research note on Monday. HC Wainwright reissued a “buy” rating and set a $14.00 price objective on shares of Rezolute in a report on Wednesday, February 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $112.00 target price on shares of Rezolute in a report on Monday, November 4th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $24.38.

Rezolute Price Performance

Shares of Rezolute stock opened at $4.81 on Thursday. Rezolute has a 52-week low of $1.06 and a 52-week high of $6.19. The firm has a market capitalization of $278.69 million, a PE ratio of -3.79 and a beta of 1.10. The company’s fifty day moving average price is $4.88 and its two-hundred day moving average price is $4.90.

Rezolute (NASDAQ:RZLT) last posted its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.11. Analysts predict that Rezolute will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rezolute news, CFO Daron Evans purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average cost of $4.29 per share, with a total value of $42,900.00. Following the completion of the acquisition, the chief financial officer now directly owns 150,900 shares of the company’s stock, valued at $647,361. This represents a 7.10 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 18.39% of the company’s stock.

Institutional Investors Weigh In On Rezolute

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Rezolute by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 517,014 shares of the company’s stock worth $2,535,000 after purchasing an additional 25,413 shares in the last quarter. Walleye Capital LLC bought a new position in Rezolute in the 4th quarter worth approximately $2,408,000. Exome Asset Management LLC lifted its holdings in Rezolute by 24.7% during the 3rd quarter. Exome Asset Management LLC now owns 352,056 shares of the company’s stock worth $1,707,000 after buying an additional 69,656 shares in the last quarter. State Street Corp boosted its position in Rezolute by 11.6% in the 3rd quarter. State Street Corp now owns 125,472 shares of the company’s stock valued at $609,000 after buying an additional 13,000 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Rezolute by 62.1% in the 4th quarter. American Century Companies Inc. now owns 64,591 shares of the company’s stock valued at $316,000 after buying an additional 24,742 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.