HC Wainwright Reaffirms Buy Rating for Rezolute (NASDAQ:RZLT)

Rezolute (NASDAQ:RZLT)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $5.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 26.42% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rezolute in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of Rezolute from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Wedbush upgraded shares of Rezolute from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $2.00 to $5.00 in a report on Wednesday, March 25th. Finally, Maxim Group raised their price target on shares of Rezolute from $4.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Rezolute presently has an average rating of “Hold” and an average price target of $8.75.

Rezolute Price Performance

Shares of NASDAQ RZLT traded up $0.66 during mid-day trading on Tuesday, reaching $3.96. 1,535,790 shares of the company’s stock traded hands, compared to its average volume of 1,124,615. The stock has a market cap of $380.83 million, a P/E ratio of -4.42 and a beta of 0.66. The business has a 50-day simple moving average of $3.24 and a 200 day simple moving average of $4.01. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. Equities research analysts anticipate that Rezolute will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new stake in Rezolute in the second quarter worth about $25,000. Russell Investments Group Ltd. bought a new stake in Rezolute in the third quarter worth about $61,000. Legal & General Group Plc bought a new stake in Rezolute in the second quarter worth about $32,000. China Universal Asset Management Co. Ltd. bought a new stake in Rezolute in the third quarter worth about $94,000. Finally, Raymond James Financial Inc. bought a new stake in Rezolute in the second quarter worth about $46,000. 82.97% of the stock is owned by institutional investors.

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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.