Rezolute (NASDAQ:RZLT) Price Target Raised to $10.00

Rezolute (NASDAQ:RZLT) had its price objective lifted by HC Wainwright from $5.00 to $10.00 in a research report released on Friday morning, Marketbeat.com reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on the stock. Wedbush lifted their price target on shares of Rezolute from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. HSBC upgraded shares of Rezolute to a “buy” rating in a research report on Friday. Citizens Jmp raised shares of Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 target price for the company in a research note on Wednesday, June 3rd. Maxim Group boosted their price target on Rezolute from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, Zacks Research raised Rezolute from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Rezolute presently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Rezolute Price Performance

RZLT opened at $3.90 on Friday. The firm has a market cap of $377.21 million, a P/E ratio of -5.13 and a beta of 0.60. The business’s fifty day simple moving average is $4.58 and its 200 day simple moving average is $4.03. Rezolute has a 52 week low of $1.07 and a 52 week high of $11.46.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Thursday, September 24th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). As a group, equities analysts expect that Rezolute will post -0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in Rezolute by 273.7% during the first quarter. Dimensional Fund Advisors LP now owns 530,229 shares of the company’s stock worth $1,617,000 after buying an additional 388,346 shares during the period. Siren L.L.C. purchased a new position in shares of Rezolute in the 1st quarter valued at $10,151,000. Jennison Associates LLC purchased a new position in shares of Rezolute in the 1st quarter valued at $10,489,000. Bank of New York Mellon Corp acquired a new position in shares of Rezolute during the 2nd quarter valued at $1,104,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Rezolute during the 4th quarter valued at $494,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Rezolute Company Profile

Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for rare and metabolic diseases. The company’s research is centered on therapies that address abnormal insulin activity and other conditions involving disrupted glucose regulation.

Rezolute’s leading product candidate is RZ358, an investigational monoclonal antibody designed to reduce the effects of excessive insulin. The therapy is being developed primarily for congenital hyperinsulinism, a rare disorder in which the pancreas produces too much insulin and causes potentially severe, recurrent hypoglycemia.