Rezolute, Inc. (NASDAQ:RZLT) Stock Has Average Target Price of $11.22 According to Brokerages

Rezolute, Inc. (NASDAQ:RZLT) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and twelve have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $11.22.

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald upgraded shares of Rezolute from a “neutral” rating to an “overweight” rating in a report on Monday, October 5th. Citigroup restated a “market outperform” rating on shares of Rezolute in a report on Thursday, October 15th. Zacks Research downgraded shares of Rezolute from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 13th. HC Wainwright lifted their price target on shares of Rezolute from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, September 25th. Finally, Craig Hallum upgraded shares of Rezolute from a “hold” rating to a “buy” rating and lifted their price target for the company from $4.00 to $7.00 in a research note on Tuesday, September 29th.

Rezolute Stock Performance

Shares of Rezolute stock opened at $3.88 on Monday. The business’s 50 day simple moving average is $4.14 and its 200 day simple moving average is $3.91. Rezolute has a 52-week low of $1.07 and a 52-week high of $11.46. The firm has a market cap of $375.31 million, a PE ratio of -5.11 and a beta of 0.65.

Rezolute (NASDAQ:RZLT) last released its earnings results on Thursday, November 5th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.01. As a group, equities research analysts predict that Rezolute will post -0.63 EPS for the current year.

Hedge Funds Weigh In On Rezolute

Hedge funds have recently modified their holdings of the stock. AlphaCentric Advisors LLC grew its stake in Rezolute by 4.5% in the third quarter. AlphaCentric Advisors LLC now owns 75,495 shares of the company’s stock valued at $313,000 after purchasing an additional 3,240 shares in the last quarter. Auxano Advisors LLC bought a new stake in shares of Rezolute during the 2nd quarter worth approximately $52,000. Sequoia Financial Advisors LLC bought a new stake in shares of Rezolute during the 2nd quarter worth approximately $75,000. WINTON GROUP Ltd bought a new stake in shares of Rezolute during the 2nd quarter worth approximately $88,000. Finally, ADAR1 Capital Management LLC boosted its holdings in shares of Rezolute by 51.7% in the 1st quarter. ADAR1 Capital Management LLC now owns 58,679 shares of the company’s stock valued at $179,000 after buying an additional 20,000 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Rezolute Company Profile

Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for metabolic diseases involving abnormal insulin activity. The company’s lead product candidate is RZ358, also known as ersodetug, an investigational monoclonal antibody designed to reduce the effects of excessive insulin by binding to an allosteric site on the insulin receptor.

RZ358 is being developed primarily for the treatment of congenital hyperinsulinism, a rare disorder in which the pancreas releases too much insulin, causing potentially severe and recurrent hypoglycemia.