Citizens Jmp Forecasts Strong Price Appreciation for Rezolute (NASDAQ:RZLT) Stock

Rezolute (NASDAQ:RZLT) had its price target lifted by stock analysts at Citizens Jmp from $11.00 to $15.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price objective would indicate a potential upside of 242.47% from the company’s previous close.

A number of other research firms also recently commented on RZLT. Wall Street Zen downgraded Rezolute from a “hold” rating to a “sell” rating in a report on Tuesday, June 30th. Citigroup reissued an “outperform” rating on shares of Rezolute in a research report on Tuesday. Cantor Fitzgerald upgraded Rezolute from a “neutral” rating to an “overweight” rating in a research note on Monday. HC Wainwright lifted their price objective on shares of Rezolute from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, September 25th. Finally, Guggenheim boosted their target price on shares of Rezolute from $6.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.22.

Rezolute Stock Performance

RZLT opened at $4.38 on Tuesday. The company has a market capitalization of $423.63 million, a P/E ratio of -5.76 and a beta of 0.53. The company has a 50-day moving average of $4.46 and a 200-day moving average of $4.11. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings results on Thursday, September 24th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). As a group, sell-side analysts expect that Rezolute will post -0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rezolute

Several institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC acquired a new stake in shares of Rezolute in the 1st quarter worth about $10,489,000. Siren L.L.C. bought a new stake in Rezolute in the 1st quarter valued at about $10,151,000. Dimensional Fund Advisors LP boosted its stake in Rezolute by 273.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 530,229 shares of the company’s stock valued at $1,617,000 after purchasing an additional 388,346 shares during the period. Bank of New York Mellon Corp acquired a new position in Rezolute during the 2nd quarter valued at about $1,104,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Rezolute during the 4th quarter valued at about $494,000. 82.97% of the stock is owned by institutional investors.

Rezolute Company Profile

Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for metabolic diseases. The company’s research is centered on conditions involving abnormal insulin signaling and glucose regulation, including rare disorders and complications associated with diabetes.

Rezolute’s lead investigational product is RZ358, a human monoclonal antibody designed to reduce the effects of excessive insulin activity. The therapy is being developed primarily for congenital hyperinsulinism, a rare disorder in which the pancreas releases too much insulin and causes potentially dangerous episodes of low blood sugar.