Rezolute (NASDAQ:RZLT) Stock Rating Reaffirmed by JMP Securities

Rezolute (NASDAQ:RZLT)‘s stock had its “market outperform” rating restated by equities researchers at JMP Securities in a research report issued on Thursday, Benzinga reports. They presently have a $7.00 price target on the stock. JMP Securities’ price target would suggest a potential upside of 104.08% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Maxim Group started coverage on shares of Rezolute in a research note on Tuesday, April 9th. They issued a “buy” rating and a $8.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Rezolute in a research note on Thursday, March 7th. Finally, Jonestrading started coverage on shares of Rezolute in a research note on Thursday. They issued a “buy” rating and a $10.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $8.80.

Rezolute Stock Performance

Shares of Rezolute stock opened at $3.43 on Thursday. The firm has a fifty day moving average of $2.05 and a two-hundred day moving average of $1.33. The stock has a market capitalization of $137.65 million, a price-to-earnings ratio of -3.12 and a beta of 1.29. Rezolute has a 52 week low of $0.72 and a 52 week high of $3.63.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.27). As a group, research analysts forecast that Rezolute will post -1.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rezolute news, CFO Daron Evans purchased 50,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were purchased at an average cost of $1.93 per share, with a total value of $96,500.00. Following the transaction, the chief financial officer now directly owns 120,900 shares of the company’s stock, valued at approximately $233,337. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Rezolute news, Director Young-Jin Kim purchased 36,503 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were purchased at an average cost of $1.91 per share, with a total value of $69,720.73. Following the transaction, the director now directly owns 115,450 shares of the company’s stock, valued at approximately $220,509.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Daron Evans bought 50,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was purchased at an average cost of $1.93 per share, for a total transaction of $96,500.00. Following the completion of the acquisition, the chief financial officer now owns 120,900 shares in the company, valued at approximately $233,337. The disclosure for this purchase can be found here. Insiders have acquired 179,403 shares of company stock valued at $306,601 in the last three months. 18.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rezolute

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC bought a new stake in shares of Rezolute in the 4th quarter valued at about $32,000. Renaissance Technologies LLC bought a new stake in shares of Rezolute in the 2nd quarter valued at about $58,000. FMR LLC bought a new stake in shares of Rezolute in the 1st quarter valued at about $39,000. State Street Corp bought a new stake in shares of Rezolute in the 1st quarter valued at about $69,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Rezolute in the 4th quarter valued at about $67,000. 82.97% of the stock is owned by institutional investors.

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.